Pasofino Gold Aiming Towards Mine Operation by 2024, Firm Exec Says

Pasofino Gold (TSXV:VEIN,OTCQB:EFRGF,FWB:N07A) is assured it might transfer its Dugbe gold undertaking in direction of operation in 2024 following the discharge of the undertaking’s feasibility research, in line with the corporate’s strategic advisor, Ian Stalker.

“It is received a 14 yr mine life not less than,” Stalker stated. “It is received an exploration package deal of two,500 sq. kilometers, of which we actually have simply scratched the floor. However there’s extra to return in that regard … we transfer ahead with the tempo we’re going, which might be an operation, I consider, settling comfortably by the tip of 2024. So it is not distant.”

The undertaking’s NI 43-101 feasibility study highlights sturdy monetary metrics, together with a pre-tax NPV 5 p.c of US$690 million and a 26.35 p.c IRR at a base gold worth of US$1,700 per ounce.

The Dugbe gold undertaking is in Southern Liberia, and the corporate has an settlement with the Liberian authorities to assist develop the infrastructure wanted to assist the undertaking, in line with Stalker. He additional defined that the federal government has expressed a willingness to take away the tariff and import duties on gasoline if the gold worth drops beneath US$1,500.

“The federal government is keen to forego that tax profit they get from gasoline to encourage us to construct a mine and get working. So we’re in a really, very optimistic setting, good relationship with the federal government and able to go.”

In November 2022, Pasofino Gold exercised its proper to amass 100% of the Dugbe gold undertaking from Hummingbird Sources (LSE:HUM,OTC Pink:HUMRF).

“We have been fairly shy in telling our story till we achieved the primary 49 p.c, and subsequently 100%, possession (of the undertaking). It’s the season of giving and we’re giving traders an incredible alternative. That is the time to take a position as a result of it is going to develop when it comes to worth going ahead. There’s curiosity on the market on this undertaking,” Stalker stated.

Watch the total interview with Pasofino Gold Strategic Adviser Ian Stalker above.

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