African Gold Group - Outgoing CEO, Stan Bharti
Outgoing CEO, Stan Bharti
Source: Mining Weekly
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mining company, African Gold (TSXV:AGG) has reported that its Kobada Gold Project in Southern Mali remains unaffected by COVID-19
  • The project’s definitive feasibility study is still on track, and should be complete by 2020’s second quarter
  • The company’s COVID-19 response plan reduced workforce to key personnel, and introduced new social distancing and hygiene protocols 
  • However, as the project is in its early stages, these measures have not impacted its development timeline 
  • African Gold (AGG) is down 5.17 per cent, and is currently trading for $0.28 per share

Mining company, African Gold (TSXV:AGG) has reported that its Kobada Gold Project in Southern Mali remains unaffected by COVID-19.

Since the pandemic’s outbreak, the company has implemented a strict response plan, in line with Malian regulations. 

This plan has reduced the Kobada Project’s workforce down to key personnel only. The workers who remain onsite are operating under strict social distancing and hygiene rules, to maintain their health and safety.

Thus far, none of the company’s employees or contractors have reported a confirmed case of COVID-19 infection.

While such restrictions have negatively impacted other projects elsewhere, Kobada has managed to dodge such consequences. The project is currently in a developmental stage, which depends on completing the definitive feasibility study (DFS).

Given the project’s current developmental stage, African Gold’s measures have not affected its development timeline. Rather, the company has made a number of operational changes so that it can continue working on the necessary DFS. 

In spite of COVID-19, African Gold’s DFS remains on track, and should be complete by the second quarter of 2020.

After its comprehensive drilling campaign in 2019 and early 2020, the company better understands Kobada’s potential for expansion.

The project’s Gosso target recently produced targeted grab samples which confirmed additional mineralisation zones. 

As such, African Gold is making preparations for additional drilling at its Faraba and Kobada extension concessions. These activities will begin once Mali’s government begins to lift its current pandemic-related restrictions. 

African Gold (AGG) is down 5.17 per cent, and is trading for $0.28 per share, as of 1:37pm EDT.

More From The Market Herald

" Hanna Capital (TSXV:HCC) to expand exploration activities in Africa

Hanna Capital Corp. (HCC) announced plans to increase its exploration activities in Africa.
The Market Herald Video

" Phenom Resources (TSXV:PHN) expands the vanadium deposit on its Nevada project

Phenom Resources (PHNM) has announced the final report on shallow vanadium drilling from the 2022 summer program on its Carlin Vanadium Gold Project.
The Market Herald Video

" Green River Gold (CSE:CCR) expands its critical minerals discovery at its Quesnel Nickel project

Green River Gold (CCR) provided assay results and updated drilling results on Zone 2 at the Quesnel Nickel project.

" MacDonald Mines (TSXV:BMK) closes $175K offering

MacDonald Mines Exploration (BMK) has closed its non-brokered private placement offering for proceeds of $175,500.