Tietto Minerals (ASX: TIE) is West Africa’s newest gold producer, achieving first gold at its Abujar Gold Project in Côte d’Ivoire in January 2023.
Tietto’s 2021 Definitive Feasibility Study (DFS) for Abujar demonstrated the project can produce 260,000 ounces of gold in its first year of production at an all-in-sustaining-cost (AISC) of US$651/oz and produce 1.2 million ounces of gold over the first six years of operation – averaging 200,000 ounces per year at an AISC of US$804/oz.
With estimated Life of Mine revenue of US$2.87 billion at a US$1,700/oz gold price, Abujar can deliver pre-tax cashflow of US$1.28B and achieve payback within a year of first production. Abujar gold production is unhedged and free of debt.
Abujar has a current mine life of 11 years with scope for Tietto to extend this with further near-mine and regional exploration success.
Tietto is investigating the viability of a second gold mine at the APG deposit, 7km from its Abujar operations.
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