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“We help our clients take on a future that is full of unknown challenges, yet brimming with opportunities,” says Rajesh Shah, Partner, Venus Jewel

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Botswana leads in providing financial incentives for diamond exploration – Campbell

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25 july 2022

“The future of real diamonds is greater than ever” asserts Leibish Polnauer, Founder- President, Leibish & Co

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04 july 2022

West African to start gold mining at second Burkina Faso mine by 2025

03 august 2022
West African Resources (WAF)’ feasibility study for Kiaka in Burkina Faso shows it will be a long-life low-cost gold project averaging 219,000 ounces of gold production per year for 18.5 years from 2025. 
The study estimated a pre-tax free cash flow of $2.4 billion and a post-tax net present value of $856 million and an internal rate of return of 21% at a gold price of $1 750/oz.
Company chief executive Richard Hyde said they aim to fund the Kiaka development from internal cash flow and debt.
He said they had engaged leading debt advisory firm Orimco to assist with the banking process.
“We have a $20 million 2022 early works budget for Kiaka, with major works expected to start in early 2023 leading to first gold in mid-2025,” said Hyde.
“WAF is in an exciting growth phase, as we aim to a be a multi-project +400,000oz per annum gold producer by 2025.”
West African acquired a 90% interest in the Kiaka project from B2Gold last year for $100 million. 
Kiaka is located 45 kilometres from WAF’s existing Sanbrado Gold Operation, which allows the company to leverage their experienced management and operational teams in the region. 
The project, which has a 7.7 million ounce resource, was granted a 20-year mining lease.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished