Engineering & Mining Journal

MAY 2019

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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Page 58 of 83 E&MJ tMAY 2019 57 MINING IN QUEBEC $JQLFR (DJOH WRRN D LQWHUHVW LQ RXU VKDUHVIRUDQLQYHVWPHQWRI&PLOOLRQp said president and CEO Philippe Cloutier. o6XEVHTXHQWO\-30RUJDQ8.WRRND interest in Cartier Resources. This gave us significant publicity which attracted vari- ous other investment interests, and by the HQG RI WKH FRPSDQ\ KDG & PLO- OLRQp &RQFXUUHQWO\ WKH FRPSDQ\ ODXQFKHG an aggressive diamond drilling program on its Chimo deposit and Cartier is to bring a PDLGHQUHVRXUFHFDOFXODWLRQWRPDUNHWLQWKH near future. $VPDUNHWFRQGLWLRQVKDYHQRWIDYRUHGWKH junior community since the end of the super cycle, a collaborative approach that brings together financial resources and expertise is becoming more commonplace. One such FDVHLV4XÃEHF3UHFLRXV0HWDOV&RUSRUDWLRQ 430ZKLFKZDVIRUPHGLQ$SULODV &DQDGD 6WUDWHJLF 0HWDOV DFTXLUHG 6SKLQ[nV three gold projects through an asset pur- chase, and then teamed up with Matamec Explorations and the Sphinx management team to create the new gold exploration com- SDQ\*ROGFRUSLQYHVWHG&PLOOLRQDQGDQ initial exploration program commenced at WKH 6DNDPL JROG SURMHFW LQ 4 1RU- mand Champigny, CEO of QPM, outlined the UHDVRQLQJEHKLQGWKLVEXVLQHVVPRGHOo7KH industry requires consolidation as there are currently too many junior companies with WRR OLWWOH IXQGLQJ LQ WKH PDUNHW ,W LV EHWWHU to offer very high-quality projects that will attract investment and encourage develop- PHQWpKHVDLG The modernization of African gold mining Many of the exploration companies based in Canada do not have assets in North Amer- LFD EXW XVH WKH FRXQWU\ DV D EDVH WDNLQJ advantage of Canadian mining expertise and SUR[LPLW\WRPRQH\PDUNHWV&DQDGLDQ2YHU- seas Resources (COR) was created in May WRSURPRWHWKHGLIIHUHQWDFWLYLWLHVRILWV partner companies operating in Cameroon, Gabon, Congo Brazzaville, Central Africa Re- public, and the Democratic Republic of Con- go (DRC). Through these African companies, COR holds dozens of artisanal mining sites and 11 research permits covering an area of VTXDUHNP&25nVDLPLVWROHYHUDJH &DQDGLDQ PLQLQJ NQRZOHGJH WR DFFHOHUDWH the research and prospecting that will help push its African activities into industrial gold PLQLQJ E\ &25 ZLOO ODXQFK WKH ILUVW stage of its drilling campaigns in Cameroon DQG'5&LQ Fabrice Ngondi Demtare, president of &25LVORRNLQJWRGUDZRQ&DQDGLDQH[SHU- tise, technology and investment to advance central-African projects that have previously UHSOLHG RQ DUWLVDQDO PLQLQJ SUDFWLFHV o7KH land is gold-rich and has huge potential, but WRUHDOL]HLWRSHUDWLRQVPXVWEHPRGHUQL]HGp KH H[SODLQHG o6XVWDLQDEOH GHYHORSPHQW LQ WKH FRPPXQLWLHV LQ ZKLFK &25nV SDUWQHU FRPSDQLHVRSHUDWHLVWKHXOWLPDWHJRDOp Toronto-based Teranga Gold operates in three countries in West Africa - Senegal, %XUNLQD)DVRDQG&ÎWHGn,YRLUH7KHFRPSD- Q\nVYLVLRQLVWRFUHDWHDPXOWLDVVHWPLGWLHU JROGSURGXFHUFDSDEOHRISURGXFLQJ R]\RIJROG,WVIODJVKLSLQ6HQHJDOWKH6D- bodala mine, has been in production since DQG LQ 7HUDQJD SXEOLVKHG DQ optimized mine plan which calls for over 1 PLOOLRQR]RISURGXFWLRQDQG&RI free cash flow over five years, beginning in &(2 5LFKDUG

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