Bassari Resources Limited
Corporate Office - Melbourne, VIC
Focused on bringing its 1 million ounce, Makabingui Gold Project in Senegal, West Africa, into production in 2015
Bassari Resources Limited (ASX: BSR) is an Australian listed gold company transitioning from explorer to producer. The Company is focused on bringing its Makabingui Gold Project in Senegal, West Africa into production in 2015.
Bassari recently announced a maiden ore reserve of 860,000 tonnes at 5.7g/t for 158,000 ounces of gold. An underground scoping study completed in September 2014 returned high-grade gold results of 7g/t gold for ~120,000 ounces in high-grade underground scope targets.
The company has completed a feasibility study for Makabingui which returned outstanding results, including an average gold grade of >5.6 g/t, C1 cash costs of US$683/oz, capital cost of $12.1 million and an IRR of 404%.
The Company’s immediate focus will be near-surface, open-pit mining at Makabingui, as well as further field work along the major gold corridor immediately south of Makabingui.
The current project timeline has Makabingui pouring first gold in 2015.
