Essakane Gold Project, Burkina Faso

Essakane gold project is located in Burkina Faso, West Africa. A feasibility study indicates proven and probable reserves of 3.1 million ounces using a $600 per ounce gold price (reserves of 3.4 million ounces using a $700 per ounce gold price) and measured and indicated resources of 4.0 million ounces. Average gold production is expected to be approximately 315,000 ounces over a minimum nine-year mine life at an average cash operating cost of $358 per ounce, using a $600 per ounce gold price and a $85 per barrel oil price The project is expected to contribute an estimated 340 000 attributable ounces of gold in its first twelve months. Project value : US$443 million.