TSX-V-listed Robex Resources has unveiled the results of an updated feasibility study for its Kiniero gold project in Guinea, highlighting stronger project economics and increased mineral reserves.
The company, which is planning to list on the ASX, remains on track to pour its first gold in the fourth quarter of 2025, with construction of a five-million-tonne-a-year processing plant and associated infrastructure under way.
The updated feasibility study, based on a gold price of $1 800/oz, projects an average production of 139 000 oz/y of gold at an all-in sustaining cost (AISC) of $1 066/oz over the mine’s nine-year life. Production is expected to average 154 000 oz/y during the first six years.
MD Matthew Wilcox said updating the feasibility study for the Kiniero project was a major milestone in its journey towards project development, as the feasibility study optimisations and updated mineral resource estimate (MRE) had delivered increased mineral reserves and stronger economics for the project.
The base case gold price post-tax net present value (NPV) now stands at $322-million with an internal rate of return of 36%, which have both improved by about 89% on the 2023 feasibility study results. At consensus price of $2 330/oz the post-tax NPV, using a 5% discount, stands at $647-million, or A$1-billion.
Meanwhile, Robex has completed an additional 25 000 m of drilling, with an updated MRE expected in the second quarter of 2025. The company continues near-mine exploration to extend the life of the mine while advancing discussions with lenders for a debt facility, anticipated to close in the first quarter.
“Construction is progressing well at Kiniero, and we issue market updates frequently. We look forward to our ASX listing in the coming months and becoming West Africa's newest gold producer before the end of 2025,” Wilcox concluded. 