Elemental acquired a 1% NSR royalty on the Wahgnion gold mine in January 2020. From acquisition to June 30, 2020, Wahgnion has provided US$1.1m in gross royalty revenue to Elemental.
The Wahgnion mine is a 2.2 Mtpa – 2.5 Mtpa carbon-in-leach operation located southwest Burkina Faso, 510 km southwest of the capital city Ouagadougou. The mining licence covers an area of 89 km2 mine license with a 933 km2 exploration land package covering the Paleoproterozoic Birimian Senoufo Belt.
Wahgnion is operated and 90% owned by Teranga, with a 10% free carry in favour of the Government of Burkina Faso. Similar to Teranga’s operating Sabodala mine in Senegal, Wahgnion will have multiple deposits feeding into a central mill and owner-operated conventional truck and shovel open-pit mining. First gold was poured in August 2019 with commercial production declared on 1st November 2019.
The mine has Proven & Probable gold Reserves of 1.61 Moz and 2.4 Moz Measured and Indicates Resources, with a 13 year mine life.
In addition to the large Resource base available for conversion into Reserve, the existing mine sites within a very large (933 km2 ) exploration land package, itself within a globally important gold producing province.
For further information please visit the Teranga Gold website.