New book ‘102 Things to Do with a Hole in the Ground‘ spotlights global reclamation projects
Stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems are told in a new book published this month.
TrueGold Mining (CVE:TGM) jumped 5% on Monday on heavy volumes, after announcing environmental permit for the Kao deposit at its Karma project in Burkina Faso.
By the close the Vancouver-based junior settled at $0.42, up 3.7% on the Toronto Venture Exchange, off its highs for the day. Around 770,000 shares in the $111 million company had changed hands on Monday compared to the usual daily average of 180,000.
TrueGold’s share price is up 31% over the past month after a strong feasibility study and mining permits for three other deposits at Karma were announced in December.
The feasibility calls for a $130 million mine at Karma which is 90%-owned by TrueGold with the Burkina Faso government holding the remainder. Karma’s probable reserves are pegged at 949,000 ounces (33.2mt at 0.89 g/t) and the operation could produce 97,000 ounces on average annually for 8.5 years starting end-2015.
What makes Karma stand out are all-in sustaining costs of $720 and direct cash costs of $591 thanks to shallow pits and proposed heap-leach extraction and what the company characterizes as “strong gold grades, excellent infrastructure, low power and water requirements, strong recoveries from simple metallurgy and soft, free digging material.”
TrueGold also owns 100% of the Liguidi gold project in Burkina Faso which last year returned some positive drill results.
