Robex doubles the size of its private offer for the flagship Kiniero gold project in Guinea

An over-allocation of 15% was granted to agents, led by SCP Resource Finance. It can be exercised up to 30 days after closing.

The Kiniero gold project was acquired by Robex in 2022 as part of the business combination with Sycamore Mining. The 470 km². The property includes both the Kiniero project and the adjacent Mansounia exploration licenses.

The mine was operated from 2022 to 2014, producing a total of 418,000 oz. gold for the former owner.

Work to restart the conventional open pit mine began in 2022 and Robex published a feasibility study in June 2023. Existing mining infrastructure will be renovated and expanded as required, but minimal additional work is required.

Initial capital costs were estimated at C$160 million to produce 851,000 ounces. over a life of 9.5 years. The all-in sustaining cost per ounce is $980. The processing plant will use both gravity and carbon leach recovery. An updated study is due to be published in September 2024.

Robex has also started a vast drilling program on the numerous deposits identified on the Mansounia concessions. Drilling density at depth and along known lateral extensions is a priority.