Large gold resource with significant upside potential
Current JORC inferred resource of 1.74Moz defined over approximately 10 per cent of the gold in soil anomaly, with high potential exploration targets. The Bhukia project has been subjected to over 150 drill holes in addition to extensive sampling, with the GSI producing an unclassified non-JORC resource of 106Mt @ 2.0g/t Au, 0.15% Cu (6.7Moz Au, 160,000t Cu)
Estimated to be a low cost operation
Management believe the Bhukia project hosts all the key parameters to enable a low cost operation. The mine is expected to be shallow open pit with grade being relatively continuous. The large scale ore body contributes to further low costs. Pit optimisations suggest that the majority of the inferred resource may be recovered at low gold prices. The operation has extensive infrastructure, with power, roads and transport in close proximity.
Support of national Governments
The Government of India (“GoI”) is highly supportive of the mining industry, promoted by President Modi’s “Make in India” campaign to strengthen the nation. The GoI has been particularly responsive when dealing with the Company. The development of the Bhukia Project would bring additional employment opportunities for the local community, and the Company anticipates continued support from the GoI and local community alike. The same is also expected of the Governments of Burkina Faso and Mali who are both promoting the resources industry and regional economic growth.
Board and management team
The Company has assembled a strong board and management team that provide a multi-disciplined, well-educated and experienced leadership, collectively demonstrating substantial experience in the exploration, financing, development and operation of mines.
West African portfolio
The combination of assets in both Burkina Faso and Mali present a portfolio of large, cohesive and untested soil anomalies with significant eluvial, alluvial and artisanal workings spread over well-known gold mineralised geological belts. Panthera will take advantage of its team’s extensive experience in the areas to develop the projects.