BTO x 2, TUO x 2
B2Gold aka BTO released an updated resource estimate for the Anaconda deposits, located 30km north of their flagship Fekola mine and mill in Mali. The oxide resources have increased to over 2M oz Au Indicated and over 2M oz Au Inferred. The idea is to begin by trucking the oxide ore to Fekola for processing, but BTO has also begun an economic study concerning the construction of a standalone mill.
As well, they have declared an initial sulphide Resources of 780K oz Au Indicated and 1.72M oz Inferred, though unless I missed it they don't mention where that ore would be processed. I am assuming it will be trucked to the Fekola mill. Meanwhile, ongoing exploration drilling is expanding both oxide and sulphide deposits in the area.
Message 34328116
BTO also brought us an update of the construction of Goose, a gold mine in Nunavut they acquired as the result of the recent buyout of Sabina. They are sticking to a schedule involving commissioning the mill in Q1 2025, and are also sticking to the $800M budget with one exception, an additional $90M to push forward underground production. They have also made a number of changes to the mine plan and will continue to do so until it is finalized later this year.
The team BTO has assembled to construct the mine is very experienced, and given their track record I expect them to complete construction on time and on budget.
Message 34330558
Teuton Resources aka TUO released an update on their many properties located south and southeast of Stewart in BC's Golden Triangle, many of the them JVed with Silver Grail. In the wake of GOT's and DV's discoveries on their Golldigger and Homstake Ridge properties, this area has become white hot, and it turns out that many of the new properties recently staked by GOT actually adjoin properties owned by TUO. Continued glacier melt has opened up areas newly available for exploration, so there are a large number of Au, Ag .Cu. and Zn prospects for exploration this summer. Expect constant news flow on this exploration through the summer, even as TUO continues to work with other JV partners on its flagship Treaty Creek and other properties in the Golden Triangle.
Message 34328154
We also got some news which may affect several other of TUO's JVed properties in the area. Blackwolf aka BWCG, which owns a number of prospects in the Golden Triangle and adjoining areas of Alaska, is buying out Optimum Ventures aka OPV, which has JVs with TUO on Harry and Outland, both in the Golden Triangle. OPV was very gung ho on Harry, pursuing a robust exploration campaign. It remains to be seen if BWCG will be as enthusiastic.
Message 34328198
And I will share part of a sentence from Saville -- 'delays to the emergence of definitively negative economic and stock market consequences of the monetary tightening probably mean that a better opportunity to buy gold will arrive within the next three months'. |
