Mark Connolly- The wolf of west Africa, page-10

https://www.miningnews.net/

Sanbrado will keep getting better: Hyde
Sanbrado has a 1.6 million ounce reserve and is set to produce an average 211,000 ounces of gold per annum at an average head grade of over 4 grams per tonne gold in its first five years.

The company continues to return high-grade results from recent drilling.

"The project's still giving and growing and it's going to get better," West African managing director Richard Hyde told the Precious Metals Summit in Colorado on Friday.

Life-of-mine all-in sustaining costs are set to be US$640 an ounce, and $551/oz in the first five years.

Hyde says costs are likely to come down further as the project grows and the company optimises the June feasibility study.

"We're also looking at increasing throughput by 25% for little or no capital," he said.

The company is set to start building the decline next month, with the open pit and underground to start up at the same time.

"It will really supercharge cashflow in the first two years," Hyde said.

It will also give West African a platform for deeper drilling after recent results at depth like 9m at 90gpt gold.

"I'm pretty excited to get down and have a look at it," Hyde said.

The company plans to start moving a local village of around 600 people in December ahead of full construction early next year.

Sanbrado has capital costs, including contingency, of US$185 million.

As announced last week, West African received "strong interest" from 14 tier one international resource financiers after requesting debt funding proposals.

Competitive non-binding offers ranged from $160-$215 million.

"We've just been through the West African version of The Bachelor and only five got roses," Hyde said.

The company aims to appoint a banking syndicate by November, and will appoint an engineering, procurement and construction contractor in about a fortnight.

Shares in West African last traded at A29.5c, valuing the company at just over $200 million.