We wish to bring your attention to Dr. Allen Alper’s article in this week's MetalsNews.com newsfeed.
"African Gold Group (TSX: AGG) is currently advancing the Kobada gold project located in Mali, with a completed economic assessment and plans to pursue equity and debt financing. Data indicates that the Kobada Gold project will have a low CAPEX and OPEX with a 511,000 ounce gold reserve.
Declan Franzmann, President and CEO of African Gold Group (TSX: AGG) is currently leading his company to advance the Kobada Gold Project in Mali as their flagship project.
Franzmann has a long history in mining. He said, “I’m a mining engineer. I have been in mining for the last 24 years. I have done a mixed bag of things; from working as a miner underground, to running an entire operation, to a managing director role. Most of my experience is in gold.”
With his experience, African Gold Group has been focused on their Kobada Gold Project in Mali. Franzmann said, “We have been doing quite a bit of work this last few years in quite difficult market conditions. We pushed the project through a preliminary economic assessment back in 2014 and now we have followed through with a feasibility study on the project, which really confirms the findings of the PEA. The feasibility study is mostly focused on our funding initiatives for the project. So in the last two years, we have managed to pull the mining license together, and have managed to get all of the environmental permits for the project. We have put together a 511,000 ounce reserve on the deposit as well. Really the focus now is to move forward with our funding initiatives and to get into a development stage.”"
As part of continuing research being conducted by Global Business Reports (GBR), Declan Franzmann, President & CEO of the African Gold Group had a question & answer session with Mining In Africa Country Investment Guide (MAGIC).
Global Business Reports (GBR) and African Mining Indaba LLC is a partnership for the production of a comprehensive intelligence report on the continent’s mineral sector. The third edition of the Official Mining in Africa Country Investment Guide, will be launched next February 2016, as the only official publication providing country-specific information at Africa’s top mining event, the 2016 Investing in Africa Mining Indaba™ held in Cape Town, South Africa.
With 54 sovereign African nations, Africa is arguably the most culturally, politically and geological diverse continent in the world. MACIG aims to guide the global mining and investment community through the challenges and opportunities of this resurgent continent, explaining the issues they must be aware of, highlighting those governments who welcome their investment and emphasizing the sheer scale of the mineral wealth available.
African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce the completion of the Feasibility Study for the Kobada Gold Project. The Study demonstrates the robust nature of the project, with an “All In Sustaining Costs” (“AISC”) of US$788 per ounce and free cash flow of US$122 million net of all capital expenditure, operating costs, royalties and taxation in Mali, at a gold price of US$1,200 per ounce.
The Feasibility Study establishes the maiden Mineral Reserve for the project, containing 511,000 ounces of gold within two oxide open pits. A body of comprehensive test work, undertaken as part of the study, confirms the project’s processing methodology and confirms the robust economic parameters established in the Preliminary Economic Assessment, published December 23, 2014.
The Company plans to use the Feasibility Study to support funding initiatives for the development of the Kobada Gold Project.
African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce the Company has received a mining license for the Kobada Gold Project, located in Mali, West Africa on July 31, 2015 (“Kobada” or the “Project”).
This is a very significant milestone in the development of Kobada to a producing gold mine and marks the completion of the key permitting stage. The company now has all of the necessary government approvals for the Project’s development.
DETAILS OF THE MINING LICENSE
The Prime Minister of Mali granted the mining license to African Gold Group Mali SARL (AGG Mali), a 100% owned subsidiary of AGG, on July 31, 2015 under Decree 2015-0528. The mining license covers an expansive area of 135.7 square kilometres (52.4 square miles) and is valid for a period of thirty (30) years.
This area covers 100% of the current mineral resource at Kobada, plus the most advanced exploration targets and areas of significant resource potential.
African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce the update of the Mineral Resource and provide a general update of progress on the Feasibility Study for the Kobada Gold Project.
Above a cutoff grade of 0.3g/t Au, the Measured and Indicated (M&I) Mineral Resource was estimated to be 35.4 million tonnes at 1.1 g/t gold, containing 1.21 million ounces of gold. The Measured and Indicated Mineral Resource is mostly unchanged from 2014 despite the inclusion of mining depletion from artisanal mining activity and the lower bulk density applied for the laterite resource. This is largely due to additional drilling allowing the classification of Measured and Indicated Resources from previously Inferred or unclassified resource.
The oxide ore types that comprise the M&I Mineral Resource total 18.0 million tonnes at 1.1 g/t Au containing 620,000 ounces of gold.
As announced in a press release dated August 05, 2015, the company completed 1,398 metres of drilling in May 2015. This drilling was included in the update of the mineral resource, although the primary purpose was the collection of geotechnical and metallurgical samples, rather than improving mineral resource size and confidence.
Significant intercepts from this drilling included:
African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to advise it has filed the Resource Update andPEA on SEDAR in accordance with National Instrument 43-101, on 23 December, 2014 for its 100%-owned Kobada gold deposit in Mali, West Africa ("Kobada" or the "Project")
The cash flow forecast for the final version of the PEA, filed on SEDAR, has been updated to provide the Project's financial metrics after the payment of royalties, taxes and dividends to the Government of Mali. Production schedules, gold production and all other physical parameter estimates that were presented in the November 25 press release have not changed in the final version of the PEA, filed on SEDAR.
As previously announced,the PEA envisions a relatively simple and low capital cost gravity concentration and concentrate leaching operation with an initial fifteen year mine life. Mining output is modeled at 1.6 million tonnes per annum.
African Gold Group, Inc. (TSX V: AGG) ("AGG" or the "Company") is pleased to announce the closing of a non-brokered private placement offering (the "Offering"). The Offering consisted of 33,165,006 Units (the "Unit") at a price of $0.05 per Unit for gross proceeds of $1,658,250.30. Each Unit is comprised of one common share and one-half (1/2) of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one additional common share of AGG for a period of twenty-four (24) months at a price of: (i) $0.075 per common share for the first six (6) months; and (ii) $0.10 per common share thereafter until the expiry date of January 14, 2017.
Four officers and directors of the Company, being Declan Franzmann, Marco Durante, David Brown and Jaimie MacPherson (the "Purchasing Insiders"), purchased an aggregate of 13% of the securities issued pursuant to the Offering. The Offering was considered and approved by the board of directors of the Company, with Declan Franzmann, Marco Durante and David Brown declaring a conflict and recusing themselves from voting on the Offering. There was no materially contrary view or abstention by any director approving the Offering.
Toronto, Canada - African Gold Group, Inc. (TSX V: AGG) ("AGG" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement offering (the "Offering") to raise gross proceeds of CDN$1,289,821.85. The Offering will consist of 25,796,437 Units (the "Unit") at a price of $0.05 per Unit. Each Unit is comprised of one common share and one-half (1/2) of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one additional common share of AGG for a period of twenty-four (24) months at a price of: (i) $0.075 per common share for the first six (6) months and (ii) $0.10 per common share thereafter until the expiry date of the Warrant. No broker or finder fees will be payable in connection with the Offering.