“Real gold is not afraid of the melting pot.”
– Chinese Proverb
Kedougou Gold (KG) has entered into joint venture agreements to exploit mining concessions on properties known to have gold deposits and which are already producing small quantities of gold by artisanal means. This is a brownfields development in which the KG will develop semi-mechanized gold mines on these properties with the intent to extract, process and smelt gold into doré bars for sale onto the open market.
KG shall have full, exclusive and complete authority and discretion over the management and control of the business.
This is a brownfields project as artisanal mining is already taking place so large sums of cash and a great deal of time do not need to be invested in exploration work. In addition, the gold mineralization is near surface. This provides early gold production and cash flow. The intention would be to exploit alluvial deposits although extensive work has been done on quartz veins and the Company has the equipment and expertise to also mine these.
At present the artisanal miners are recovering very small quantities of gold. By bringing in equipment such as excavators, dump trucks, backhoe loaders and specialized processing equipment the output can be increased many fold. The output would then be shared between Kedougou Gold and the GIE, usually on an 80:20 basis.
Whilst this is not a unique business model in the global context, we are not aware of any other organization providing these services in Senegal at present to the small and artisanal mining sector.
Extensive exploration was carried out on a second site where an average in excess of 1g per cubic . On Right in Yellow is known producing artisanal sites.
Red is Kedougou Gold Sites.
• Unique opportunity to invest alongside a privately-owned mining group (the ‘Company’) which has a 100% in a shovel-ready gold deposit in Senegal (the “Project”) which currently benefits from small scale production
• Project benefits from near surface, low strip, high grade mineralisation which allows for low cost development and production. The Project also has full mining permits.
• Project is currently being informally but legally mined by artisanal miners, and the Company has entered into legal agreements to formalise these arrangements and modernise mining techniques.
• Equipment has been purchased, is on site in Senegal and substantial trial mining activities have been carried out over an eighteen-month period.
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