"Another example of RSG 'colouring' their statements is the fact that they never tell you in quarterly reports and presentations that they only have an 80% interest in Syama and a 90% interest in Tabakoroni whereas reputable companies such as AQG will spell out their interest in Copler at 80% in every published document so investors are fully informed. And of course, RSG is quoting figures in their reports for a 100% interest in the mine and without any footnote to tell you it's only 80% or 90% attributable - so when they say that Syama is a potential +300k oz/pa operation it is really only somewhere between +240k to +270k attributable to RSG. You would have to look deep into the Annual Report to get the facts - how many retail investors read them? But if you are interested it is on pg10 of the FY18 report."
I think most people are aware of this. I and others have often included the Mali 20% ownership in our calculations.
Take this post below for example where I calculate the total scalability of the Syama project at 511koz/annum. I have to admit however I thought the 20% Mali government share also extended to the satellite deposits. It's good news to find out Tabakaroni is 90% owned. Thanks for that information. Maybe some of retail investors aren't as stupid and ill-informed as you think.Esh
"yes but the target is 2.4Mtpa under the revised DFS so don't get too excited just yet. The 4Mtpa is aspirational but achievable. According to the new DFS announcement, independent mining consultants were engaged by RSG to look at possible UG mining schedules for Syama. They looked at 2.4, 3.0, 4.0, 4.5 and 5.0Mtpa mining rates and concluded that 4.0Mtpa was the maximum production rate achievable using both sub-level caving and long hole open stope production. The bottle neck in this plan is the sulphide processing which would need to be expanded to match the mine production. The company is building a scalable mine at Syama with the view to increasing processing capacity in the future.
Then you have the separate oxide circuit capable of 1.3Mtpa, so total capacity currently being built is 3.7Mtpa and aspirational total capacity of Syama is 5.3Mtpa.
At an average grade of 3g/t (sulphide and oxide) that total capacity could in theory produce 11.1M grams of gold per annum or 357,000ozs/annum (318,000oz at 89% recovery) and an "aspirational total capacity" of 15.9M grams of gold per annum or ~511,000 oz (454,790ozs at 89% recovery). Not bad for one mine. You've also got to remember the Mali government holds a 20% share in the mine so RSG's share of the above must be reduced by 20%. Esh"
(20min delay)
