African Gold Group Inc is a gold-focused metal and mining company.
The Toronto-based firm is listed on TSX Venture Exchange, and the common stocks trade under the symbol ‘AGG’.
The gold mining firm acquires, explores, and develops precious metal and base metal properties primarily located in West Africa.
African Gold Group (AGG) is engaged in the Kobada Gold Project situated in the Birimian Greenstone belt, roughly 126 kilometers to the southwest of the Capital of Mali, Bamako. The firm claims that the project is well connected to the transportation infrastructure and logistics routes.
AGG holds a 90 per cent stake in the Kobada Gold with mining license valid till July 31, 2045. However, the remaining 10 per cent stake is owned by the Government of Mali.
Other mining firms operating in the region includes Resolute Mining, AngloGold Ashanti, Endeavour Mining and Barrick Gold.
With pre-tax internal rate of return (IRR) of 45.5 per cent and net present value (NPV) of 5 percent of US$284 million, the company claims that the Kobada Gold project is an economically attractive project with low operating costs.
The Kobada Gold Project has a mine life of over ten years and the capacity to produce more than 100,000 ounces of gold per year, the mining firm claims. Furthermore, total measured and indicated resources of the project account for approximately 1.2 million ounces of gold at the grade rate of 0.86 g/t reportedly. In addition, the inferred resources are estimated to be 1.1 million ounces of yellow metal, and P+P resources of 754,800 oz of gold.
The Africa-focused mining firm claims to have undertaken four kilometers of drilling in a thirty kilometers shear zone comprising several concessions with high-grade satellite deposits, including Gosso Target and Faraba.
The company aims to convert nearly 575 thousand inferred oxide resource to additional reserve resources. In addition, African Gold Group has an interest in the Madougou Gold Project, an exploration project situated in the northwest of Burkina Faso.
The gold mining firm is working on a hybrid power plant comprising photovoltaic solar panels, thermal generators and battery energy storage systems. In addition, it is reportedly focused on developing Tailings Storage Facility with full containment valley tailings dam (TD) system and additional infrastructure to process waste products.