Studies in 2014 and 2017 confirmed the Makabingui project to be economically viable . Once financing is in place , the project will be ready to take to the next level of development . development and transition into a producer , a new bankable feasibility was needed in 2017 .
BASSARI RESOURCES
Studies in 2014 and 2017 confirmed the Makabingui project to be economically viable . Once financing is in place , the project will be ready to take to the next level of development . development and transition into a producer , a new bankable feasibility was needed in 2017 .
“ So we had a study in 2014 ,” he says . “ Then we had an application for exploitation / production permit , which takes time . Then an environmental study , and then it needed to go for governmental approval , and suddenly here we are in 2017 .” Both the 2014 and 2017 studies showed similar excellent economic results , being a low cost , highly profitable operation with significant free cash flow At the time of writing , Mackenzie , having received a term sheet from West African bank , Coris , to fund the low capex of US $ 12mn , is waiting for the bank to now present a formal loan agreement document in order to take the next steps towards bringing Makabingui live . The goal for Bassari does not simply end at bringing Makabingui into production and making the transition towards being recognised as a significant gold player in West Africa and beyond , Mackenzie is very keen to stress that for him , Bassari is a developer , not a seller .
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58 December 2017