Analysts adjust higher metal price assumptions on Russia-Ukraine conflict

Trump's announcement comes as doubts about the project have risen over recent months.

The company is continuing drilling near Fekola and the Anaconda area as part of its $18 million program this year.

Underground mine to deliver approximately 1.1 million tonnes of ore per year at an estimated grade of 3.5 grams/tonne.

The industry contributed 8.1% of South Africa’s GDP last year, from a peak of more than 20% in the 1980s.

Indigenous leaders say they have tried to expel those mining on the land, even as government officials have said there is indigenous interest in mining going ahead.

The miner engaged GoldSpot Discoveries to clean, unify and analyze data to target exploration.

Company plans to focus on improving margins and investing in existing projects that make money at lower prices.

Initial work indicates a sequential vein development similar to the Alpala deposit.

Bank has raised its gold price forecasts to $2,300 per oz. in 2021, $2,200 per oz. in 2022, $2,100 per oz. in 2023 and $2,000 per oz. in 2024.