Tietto Minerals
Primary ticker: ASX:TIE
Stage of development: Production
Primary minerals: Gold
Project to promote: Abujar Gold Mine, Abidjan Cote D’Ivoire
Project location: Côte d’Ivoire
Website: www.tietto.com
Tietto Minerals (ASX: TIE) Abujar Gold Project in Côte d’Ivoire poured first gold in January 2023.
Abujar has a Mineral Resource of 3.83 million ounces of gold and Ore Reserves of 1.69Moz. Gold production at Abujar is unhedged.
Tietto is positioned to continue building its resource inventory at Abujar while ramping up gold production. Abujar is comprised of three contiguous tenements, Abujar South, Abujar Middle and Abujar North, over 1,114km² and features a 70km-long gold corridor. Less than 10% of the project area has been explored, providing plenty of exploration upside for Tietto to further grow its resource inventory.
Abujar is ~30km from the major regional city of Daloa and close to excellent regional and local infrastructure including grid electricity.
Tietto is investigating the viability of a second gold mine at the APG deposit, 7km from its Abujar operations, where a scoping study has identified potential for a heap leach operation that could deliver an additional 850,000oz of gold over 10 years.
Cash: AUD 26.1M
Debt: 19.5M
Major Shareholders:
CHIFENG JILONG GOLD MINING 12.49%
Zhaojin Mining 7.024%
Kongwell Management Ltd. 6.272%
Van Eck Associates Corp. 3.699%
The Vanguard Group, Inc 3.051%
Management ownership 2.20%
Financials
Management Profile
Matthew Wilcox, CEO & MD
Matthew is highly experienced in the gold mining industry in West Africa, overseeing construction of West African’s (ASX: WAF) 300,000ozpa Sanbrado Gold Mine, completed in March 2020, ahead of schedule and under budget and having spent eight years working for Nord Gold, which operates nine gold mines globally, including three in Burkina Faso and one in Guinea.
He was Project Director for the construction of Nord Gold’s 4Mtpa Bissa Gold Project and 8Mtpa Bouly Gold Project, both in Burkina Faso, General Manager of the 6Mtpa LEFA Gold Project in Guinea, and Project Director for construction of the 12Mtpa Gross Gold Project in Siberia, Russia.
What is your rationale for taking part in 121 Mining Investment?
On market support
What do you think makes your company such a compelling investment?
Run by shareholders to deliver returns for shareholders