According to a report by Mining.com, a pre-feasibility study indicates that Predictive Discovery’s Bankan gold mining project in Guinea has a net present value exceeding the investment cost by more than 210 million U.S. dollars.
　　The preliminary feasibility study released on April 15 shows that, based on the current spot price of $2,300 per ounce and a discount rate of 5%, the project’s after-tax net present value is US$1.4 billion, with an internal rate of return of 41.7%. Under a more conservative gold price assumption of US$1,800 per ounce, the net present value would be US$668 million, and the internal rate of return would be 25.4%.
　　“The results of the preliminary feasibility study now confirm that the project is not only one of the largest gold discoveries in West Africa in the past decade, but also a first-class gold deposit with significant future potential,” said Andrew Pardey, Manager at Paddy Company, at a press conference on April 15. “This could become Guinea’s largest gold mine,” he added.
　　Mining activities in West African countries, including Guinea, are on the rise, encompassing both existing mines and new exploration projects. Gold mining activities in Guinea have shown significant growth, particularly at the Kiniro gold project. Robex Resources is investing $160 million to resume operations at an old mine, with the goal of producing 90,000 ounces of gold annually over the next 9.5 years.
　　In an investment note, Raj Ray, an analyst at Bank of Montreal Capital Markets, said that most of the results from the Bencan gold mine study were in line with expectations.
　　“The project is large in scale but relatively simple to design and develop,” the analyst said.
　　Rough reserve conversion
　　Following a pre-feasibility study, 74% of the Ban Khan project’s inferred resources have been upgraded to indicated reserves. Currently, the project’s indicated ore reserves amount to 57.7 million tons, with a gold grade of 1.64 grams per ton and total gold reserves of 3.05 million ounces. Most of these reserves are suitable for open-pit mining.
　　The resource reserves are located in the NEB open-pit mine, the NEB underground mine, and the BC open-pit mine. It ranks sixth in the latest drilling results listed by The Northern Miner.
　　The mine is expected to have a mining life of 12 years, with an annual production capacity of 269,000 ounces. Most of the ore can be mined using conventional open-pit methods, including drilling, blasting, and loading/unloading with trucks and excavators at the NEB and BC deposits.
　　The mining plan includes adopting transverse deep-hole open-pit mining under open-pit operations, with backfilling used to extract deep-seated ore. The plan also proposes the construction of a concentrator capable of processing 5.5 million tons of ore per year, utilizing conventional carbon-in-leach gold extraction technology combined with gravity recovery. It is estimated that the recovery rate for the NEC deposit could reach 92.6%, while for the BC deposit it could reach 89.5%.
　　The two-year construction phase includes initial infrastructure as well as the NEB underground mine development tunnel, which will be capable of producing ore upon commissioning. Mining at the BC deposit can begin six months before commissioning, with a construction period of only one year.
　　The NEB open-pit mine will be developed in two phases to extract high-grade ore, and the Gbengbeden peripheral deposit will begin mining in the sixth year.
　　Growth potential
　　Under the expansion scenario, the NEB deposit will begin mining its reserves in the first 6 years and again after 12 years. From the 6th year through the 11th year, the company will develop the currently estimated resource volume, which accounts for 12.8% of the total gold resources. Paddy stated that the company has completed an environmental and social impact assessment report that is “free of critical defects.”
　　Pudi Company has identified several opportunities to advance exploration and delineate resource estimates, which can extend the mine’s lifespan and enhance the project’s economic value. These opportunities include intensified drilling, peripheral exploration, geological engineering assessments, beneficiation optimization, and performance tuning—all aimed at maximizing benefits and reducing costs.
　　In accordance with Guinea’s regulatory requirements, the company is preparing to translate key documents—such as the pre-feasibility study and the environmental impact assessment report—into French. Pudi Company has already initiated a final feasibility study and has applied for a development permit.
　　Roy from BMO said that the next key task is to apply for a development permit. The company hopes to submit the preliminary feasibility study report and the environmental impact assessment report within the next six months.