Dig Deep Running a Low Operating Cost Open Pit Gold Mine in Mali With Bert Munro
In this episode, we have a returning guest who appeared back in May 2021 (Episode 137). Bert Munro, CEO of Cora Gold which is a UK-based AIM-listed company. A gold exploration company developing 3 gold assets in Mali and Senegal
Bert has a strong background in the resources sector and in Africa having spent over 10 years at Hummingbird Resources in senior management, so has a great understanding of how to develop gold mining assets in those regions. He has been the CEO of Cora for nearly 3 years and takes us through that journey. Bert provides us with an update on developments and what the outlook is for the company moving forward.
KEY TAKEAWAYS
- Over the past 2 years, they have been expanding rapidly. They now have over a million ounces of resources in the ground.
- Two-thirds of the resources are indicated and a third are inferred.
- They mostly sit in easy-to-dig material.
- Cora Gold´s initial brownfield exploration shows another 1.3 million ounces of gold in the area.
- Returns for shareholders have been good and there is every reason to expect this to continue.
- It is an open pit oxide mine, which has a very low technical risk and costs.
- Currently, the mine has an expected life of 6 to 8 years, with quite a bit of potential to expand this.
- There is a lot of positivity around their financing.
- The plan is to start producing gold in 2024.
- For the mining sector in Mali, the future is bright. It is a very mining-friendly country and there are plenty of talented people to employ there.
BEST MOMENTS
‘We've been rapidly expanding our resources. So, we've now got nearly a million ounces of resources, mineral resources in the ground. ´
‘A really good high margin project with a 1.2 year payback period over 50% IRR project.’
‘If you go to Mali, everyone is studying mining. Everyone wants to work in the mining sector.’
EPISODE RESOURCES
Website: https://www.coragold.com/contact/
LinkedIn: https://www.linkedin.com/company/kola-gold
Twitter: https://twitter.com/cora_gold
Email: info@coragold.com
The previous episode with Bert Munro - https://omny.fm/shows/dig-deep-the-mining-podcast/137-dd
VALUABLE RESOURCES
mailto:rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
http://www.mining-international.org
https://twitter.com/MiningConsult
https://www.facebook.com/MiningInternational.org
https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3
ABOUT THE HOST
Rob Tyson is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first-world to third-world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients' organisations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.