Asante Gold has delivered its first gold pour at the Bibiani Gold Mine successfully with process of gravity gold concentrate recovered by the Knelson Concentrator.
Asante acquired the Bibiani Gold Mine in August 2021 and completed its project execution plan that included refurbishment and upgrade of the Process Plant, Tailings Storage Facility and Mine Site Infrastructure.
In September 2021, Asante announced start of the refurbishment process and the Company’s plan to pour gold in Q3 2022. In early June 2022, the company went ahead with the start of commissioning and operation of the Bibiani Process Plant. Since July 1, 2022, 24 hour per day operation has proceeded with the Carbon-in-Leach, carbon stripping and elution areas now operating.
Furthermore, the “hot commissioning” of the gold refinery component of the company’s process plant was completed on July 7, 2022. This is the final operating area of the Process Plant to be commissioned, Asante Gold noted. Scale up of production is continuing as planned, including collection of gold on carbon, leading to delivery of approximately 175,000 oz gold over the next 12 months.
Asante’s Output Plans
Additionally, the Company has plans to produce 220,000 to 270,000 ounces every year for a minimum of seven years. Furthermore, Asante is planning to initiate development of an underground mine design to the PEA level of study in Q3 2022, with a view to developing an underground mine operation from 2026.
This will provide significant overlap with open pit mining operations, which are currently scheduled to proceed into 2029. The new high-grade gold discovery recorded at the South Russel prospects, located at the Bibiani mine lease also provides upside risks to growth.
Asante Gold’s CEO, Dave Anthony, said:
“From the outset of our acquisition of the Bibiani Gold Mine, Asante has made a number of commitments to our stakeholders, including the local community, the Government of Ghana and our investors.
“We are proud that all of the commitments we made in the past 10 months relating to the Bibiani Gold Mine have been met or exceeded, up to this time. The quality and timeliness of work completed by the Asante team is testament to their abilities and commitment to delivering results as planned.
Dave Anthony
Principal project partners, all of which have been Ghanaian companies, include Harlequin International, Rabotec, KPS, Kozah Construction, iConstruction, Emak, Electrowind, FLSmidth – Ghana, Caesar Furnace, Mining Project Processing and Engineering Limited (MPPE), Top Quality Investments Limited, Rand Sandblasting Company, Tesla Electricals, Multigeomatics, Knight Piesold Ghana Limited, Bosch Rexroth (Ghana) and PW International (Gh) Ltd.
Recently, the company struck a deal with Kinross for its Chirano Gold mine. The deal which is one of the biggest deals, in the third quarter of 2022, will give Asante Gold more leverage to become a major gold miner in the country.
Also recall that, last month, Asante Gold listed on the Ghana Stock Exchange (GSE). The company floated about 350 million shares onto the Ghanaian stock market. According to Asante Gold, the decision to list on the GSE was borne out of calls by local investors to have some participation in the company due to its contribution to the country’s revenue stream.
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