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Tietto announces commercial production at its Abujar gold mine in Cote d'Ivoire

Kitco Media
By Vladimir Basov
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(Kitco News) - On Thursday, West Africa's newest gold producer Tietto Minerals (ASX: TIE) announced that it has reached commercial production at its Abujar gold mine in Cote d'Ivoire, West Africa.

Tietto said it produced 15,592 ounces of gold at Abujar in the June 2023 Quarter, following March Quarter production of 9,500 ounces.

The company added that Abujar is forecast to generate strong cash flows during H2 2023 based on second half production guidance of 105,000-120,000 ounces at US$875 to US$975/ounce AISC.

Managing Director and CEO Matt Wilcox commented, "We are pleased to have reached this milestone at Abujar in less than 18 months after commencing earthworks on the process plant and I thank all members of the team for their efforts in achieving this result.

"Mining rates increased markedly during the quarter, and we anticipate delivering strong net cash flow over the second half as we optimize mining and milling after achieving commercial production during June.”

Abujar has a current mine life of 11 years with estimated mineral resources of 3.83Moz gold, and there is scope for Tietto to extend this with further near-mine and regional exploration success.

Tietto is also investigating the viability of a second gold mine at the APG deposit, 7km from its Abujar operations.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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