Bombore Gold Project — Stage 2 Hard Rock Expansion

Burkina Faso · CentreStrategic minerals / gold mining and processing · Hard-rock sulphide gold processing (expansion of an existing oxide operation)

Expansion of an operating gold mine in central Burkina Faso: Stage 2 lifts hard-rock throughput to 5–5.5 Mtpa inside the existing footprint, taking output towards 220,000–250,000 oz of gold a year for a preliminary USD 90–95m.¹

Custo do projeto

c. USD 95m

Stage 2, preliminary USD 90–95m, February 2025¹

Capacidade

5.5 Million tonnes per annum

250,000 Ounces of gold per year/ano modelado

Calendário

To board approval

Then a 14-month build

Manifestar interesse

Justificação

The mine has poured gold from its oxide plant since December 2022, and a fully funded Stage 1 hard-rock plant is forecast to lift 2026 output to 170,000–185,000 oz.¹ Stage 2 adds processing units within the same footprint to reach 220,000–250,000 oz a year.

Stage: Operating mine; Stage 1 fully funded July 2024
Scheme: Hard-rock CIL plant beside the oxide plant
Capacity: 5–5.5 Mtpa hard-rock throughput after Stage 2
Reserves: c. 2.4 Moz Proven and Probable at 0.72 g/t²

Oportunidade de investimento

Estrutura da transação

Debt or strategic equity in Stage 2 of a producing gold mine; Stage 1 was fully funded in July 2024 with USD 105m of debt and equity.

Utilização dos fundos

Four CIL tanks, an oxygen plant, a ball mill, a thickener and a pebble crusher, added within the Stage 1 footprint.

Base de receitas

Gold sales into a deep, liquid global market.

O pedido

Regional debt or strategic equity partners for Stage 2, once the residual funding need is confirmed under NDA.

Porque é financiável

Producing since 2022.

Oxide plant in commercial production since December 2022, delivered on schedule and under budget; 110,014 oz produced in FY2025.³

Proven financing record.

Stage 1 was financed with a USD 58m senior loan from a regional bank and USD 47m of strategic equity from a West African investor.

Low-risk scope.

Stage 2 adds processing units inside the Stage 1 footprint, with a 14-month construction period.¹

Studied resource.

An NI 43-101 expansion study (October 2023) defines 103.5 Mt of Proven and Probable Reserves at 0.72 g/t.²

Dados e evidências · Stage 1 today vs with Stage 2

	Stage 1 (2026)	With Stage 2
Gold output	170,000–185,000 oz forecast for 2026	220,000–250,000 oz a year target
Hard-rock plant	2.5 Mtpa	5–5.5 Mtpa, same footprint
Funding	Fully funded, July 2024	Preliminary USD 90–95m; need under review

Maturidade e calendário do projeto

OriginationOperating mine
FeasibilityStudy Oct 2023
StructuringCurrent stage
Financial closePost-diligence
ConstructionTo follow

Principais riscos e medidas de mitigação

Approval and funding need

Stage 2 awaits final board approval; the residual funding need is confirmed with the sponsor under NDA before any terms.

Construction

Units are added inside the Stage 1 footprint over a 14-month build, by a team that delivered the oxide plant on schedule and under budget.

Gold price

Revenue follows the gold price; output sells into a deep, liquid global market.

Condições da transação

Instrument sought: Debt or strategic equity, subject to a confirmed Stage 2 funding need
Contract status: Stage 2 subject to final board approval (latest status, February 2026)
Technology: Hard-rock carbon-in-leach (CIL) plant alongside the existing oxide plant
Annual output: Up to 250,000 oz of gold a year after Stage 2
Development stage: Operating mine; Stage 1 fully funded; Stage 2 study complete
WAIIS pillar: Strategic Minerals & Natural Resources

Impacto no desenvolvimento

Economic

Gold export earnings and fiscal revenue for Burkina Faso, which holds a free-carried equity interest in the mine.

Regional capital

Stage 1 drew on a regional bank and a West African investor, deepening regional capital-market participation.