Name of the Project 
Kiniero gold project.

Location
Conakry, Guinea.

Project Owner/s
Canadian mining company Robex Resources Inc. 

Project Description
An updated feasibility study completed in 2024, using a base case gold price of $1 800/oz, demonstrated the project’s ability to produce an average of 139 000 oz/y of gold over a nine-year life-of-mine, compared with 90 000 oz in the 2023 feasibility study. Average gold production is estimated at 154 000 oz/y in the first six years. 

The feasibility study notes that the mine plan optimisation efforts prioritise a stable, long mine life, rather than peak upfront production.

Mining is expected to be undertaken by conventional owner-operated truck-and-excavator openpit mining in the SGA, Jean, SGD, Sabali South, Mansounia, Sabali North and Central pits.

Mining in upper oxide layers will be free-dig, with drill-and-blast required in areas that mine through the transitional material into fresh rock. 

Ore will be processed on site, at a centrally located six-million-tonne-a-year processing facility near the mining areas. The gold will be recovered in a beneficiation plant designed to process a blend of oxide, laterite, transition and fresh ores from various ore deposits.

The flowsheet includes two crushing circuits, semiautogenous (SAG)/ball grinding, and pebble crushing milling, dual carbon-in-leach circuits, split Anglo-American Research Laboratories elution and gold electrowinning, as well as carbon regeneration, which are well proven in the industry.

Existing mining infrastructure will be refurbished, with minimal additional infrastructure required.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Using a base case gold price of $1 800/oz, the project has a pretax net present value, at a 5% discount rate, of $480-million and an internal rate of return of 47%, with a payback of 2.1 years.

Capital Expenditure
Preproduction capital is estimated at $243-million (2023: $160-million).

Planned Start/End Date
First gold pour is on track for the fourth quarter of 2025.

Latest Developments
Robex Resources has successfully closed its syndicated facility agreement, securing a senior secured debt facility of $130-million to finance the construction of the project.

The agreement, initially announced on March 4, involves Sprott Resource Lending acting as agent and lead arranger, with Sycamore Mine Guinée-SAU, a subsidiary of Robex, serving as the borrower.

The facility will provide financial support for the construction phase.

On March 13, Robex and its partners agreed to amend and restate certain terms of the facility agreement. The amendments include an increase in the additional interest ounces from 4 457 oz to 4 667 oz of gold per quarter over 15 quarters, while the original issue discount was increased by $1-million upon the funding of the initial utilisation. 

The parties also agreed on a cash sweep account arrangement, should specific conditions under the agreement not be met.

The company confirmed on March 17 that the initial conditions precedent under the facility agreement had been satisfied, and it had drawn down the initial utilisation of the debt facility amounting to $25-million. 

Key Contracts, Suppliers and Consultants
Primero Engineering (redesign of processing plant); Knight Piésold (TSF expanded design); New Concept Projects (SAG/ball mill); Hyundai Heavy Industries (power station); AMC Consultants (updated feasibility study); and ECG Engineering (electrical and instrumentation contract).

Contact Details for Project Information
Robex Resources Inc, tel +224 623 985 486 or email info@robexgold.com.