Tietto Minerals

Website: tietto.com
Primary ticker: ASX:TIE
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Abujar Gold Project
Project location: Cote D’Ivoire
Company presentation: Click here

Live financials

Cash: A$13.8M
Debt: NIL

Major shareholders:
HONGKONG AUSINO INVESTMENT LTD – 12.51%
INNER MONGOLIA GEOLOGICAL & MINERALS EXPLORATION PTY LTD – 6.60%
LANZHOU OCEANIA INVESTMENT (GROUP) CO LTD – 6.57%
HONG KONG GONDWANA RESOURCES HOLDINGS LIMITED – 5.98%
MR QIXIAN WU – 4.86%
Management ownership – 9.9%

Tietto Minerals (ASX: TIE) is developing the Abujar Gold Project, 30km from the city of Daloa in Côte d’Ivoire, building on a 2.2-million-ounce gold resource. A 50,000m drilling program is underway with an updated Mineral Resource for Abujar expected in Q3 CY20. Abujar has a total land area of 1,114km2 over three tenements, and includes a 70km gold corridor, of which only 10% has been explored, providing significant potential for the Abujar resource to grow. Tietto is drilling using its own fleet of rigs, achieving some of the lowest exploration costs in the sector.

Management Profile

Dr. Caigen Wang, Managing Director

Founder of Tietto Minerals. Bachelor, Master and PhD in Mining Engineering. Fellow of AusIMM and Chartered Professional Engineer of Institution of Engineer, Australia. Over 25 years practical experience in mining engineering and mineral exploration in Australia, China, Africa and Canada. Dr. Wang’s recent professional experience includes Managing Director for an ASX listed junior mineral resources company, senior technical and management roles in mining houses (St Barbara, Sons of Gwalia, BHP Billiton and China Goldmines PLC etc.) He has been working on a variety of mineral commodities including coal, gold, nickel, iron, copper, lead & zinc, molybdenum and oil sands etc.


What is your rationale for attending 121 Mining Investment?

Meet gold investors and project financiers


What recent news would you like to highlight to investors attending?

Date Title

03 Jun 20 Tietto Hits 24g/t Gold at APG, extending strike by 900m

14 May 20 Outstanding Metallurgical Testwork Results of Abujar Project

07 May 20 Tietto hits 5m @ 14.24 g/t gold incl. 2m @ 34.7 g/t gold

30 Apr 20 Quarterly Activities Report

30 Apr 20 Quarterly Cashflow Report

23 Apr 20 Tietto Hits 21 g/t Gold at Abujar Gold Project

16 Apr 20 Abujar Gold Project Environmental Studies Commence

09 Apr 20 Low-Cost Crushing & Grinding Potential of AG Project

02 Apr 20 Tietto Hits 7m @ 9.38 g/t Gold incl. 1m @ 53.49 g/t Gold

24 Mar 20 Tietto Hits 10m @ 12.09g/t Au from 286m incl. 4m @ 29.65g/t

10 Mar 20 Tietto Hits 6m @ 17.5 g/t Gold from 34m at AG South


What are your key goals for the next 3, 6 and 12 months?

3 Months:

Resource update

6 Months:

PFS – delivery of maiden Reserve

12 Months:

DFS


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

High cost of exploration drilling caps ability of junior companies to drill without draining cash reserves.
Tietto has reduced costs by bring drilling in-house allowing the company to aggressively increase exploration drilling resulted in rapid discovery of 2Moz


What do you think makes your company such a compelling investment?

Growing shallow high-grade gold resources


Analyst Insight – provided by Independent Investment Research

Tietto Minerals is an ASX-listed resource company that’s focused on fast-tracking the development of gold exploration targets in West Africa.

Tietto Minerals is developing its flagship Abujar Project in Cote d’Ivoire. The Abujar Gold project covers 1,114 sq km over a mineralised strike of 70km in central west Cote D’Ivoire, of which less than 10% has been explored.

Côte d’Ivoire contains by far the largest proportion of gold‐prospective greenstone belts (at 34%) in West Africa. Ivory Coast is substantially under‐explored relative to Mali, Burkina Faso and Ghana. Ivory Coast already has a number of significant gold mines including Randgold Resources’ (LON:RRS) Tongon mine, which produces 320,000 ounces annually, and Endeavour Mining Corporation’s (TSE : EDV) Ity and Agbaou mines, together producing over 280,000 ounces per year.

During November 2019, a substantial upgrade to the resource was announced at Abujar, comprising a 24% increase to 45.5Mt @ 1.5 g/t Au for 2.15Moz of contained gold. The high-grade core near surface, located at the northern end of the AG deposit, increased in both ounces and grade by 32% to 19.3Mt @ 2.2 g/t Au for 1.4Moz, including Indicated Resources of 9.6Mt at 2.5g/t for 0.76Moz.

The high‐grade AG resource now stands at >4,000 oz per vertical metre, suggesting potential for a high-margin open-pit mining operation. Four company-owned rigs are currently undertaking a 50,000m drilling program, targeting further rapid resource growth. The next Mineral Resource Estimate update is planned for Q3 2020.

During May 2020, the company announced that independent metallurgical test-work on samples from Abujar had demonstrated highly favourable characteristics for low‐cost processing. Grind size test-work demonstrates excellent gold recoveries at coarse grind sizes ranging from 96% (180 μm) to 98% (106 μm) for fresh ore. A high‐level evaluation to determine optimum economic grind size has confirmed optimum grind sizes of between 106 and 150 μm, demonstrating potential use of a simple single‐stage crusher with SAG mill circuit (SSAG).

The updated Mineral Resource and results from the metallurgical test-work program will underpin a PFS scheduled for delivery during Q1 2021.