Katoro Gold KAT listed on LSE AIM recently announced a JV with Blyvoor Gold in South Africa to process ready mined Gold tailings which are sitting in tailing dams at the old working mine at https://www.blyvoorgold.com/
They also announced that Graham Briggs ex Ceo of 20 years at Harmony Gold will become JV manager. Graham managed 9 underground mines in his time at South Africa’s 3rd largest mining company.
The numbers on project are quite staggering for a micro cap company.
The JV partners plan to exploit potentially viable deposits of gold and any other minerals from six gold tailings dams owned by Blyvoor in South Africa, which contain a JORC code compliant resource of, in aggregate, 1.34 Moz of gold at an average grade of 0.30g/t gold.
The project is targeted to produce approximately 35 000 ozpa of gold and to have a 35-year life of mine.
As part time of the 50/50 JV, 17500 ounces of Gold per annum would be Katoro’s share of the deal, and with an all in cost of $664 an ounce this looks very profitable given the rise in Gold prices.
Here is a very easy to read article on the JV, worth looking at while price and market cap are still very low (£5m market cap right now)