Project Description
The New Liberty Gold Project (“NGLP” or the “Project”) entails the construction of a greenfield open pit gold mine located in the Grand Cape Mount County of northwest Liberia. The current Life of Mine (“LoM”) is estimated to be eight years with an average gold production rate of 110,000 ounces per year. It is possible that the LoM would be extended through further exploration within and around the New Liberty deposit. The Project has as a Measured & Indicated resource of 9.8 million tonnes at 3.63g/t for 1.14Moz of gold and Inferred resources of 5.7 million tonnes at 3.2g/t containing 0.59Moz of gold. Initial capex for the construction of the mine is estimated at US$136 million. Construction is currently underway and is expected to be completed by end of March 2015. The processing of the ore will use established conventional gravity and carbon-in-leach technology.