[miningmx.com] – PAPILLON Resources would start production from its $350m Fekola gold project in Mali in about 18 months – a venture that would be derisked following the company’s $650m merger with Vancouver’s B2Gold Corporation.
Speaking at the Africa Down Under mining conference in Perth, Mark Connelly, CEO of Papillon, said construction on Fekola was due to start.
“We are ready to go,” he said. “Our team is well advanced on engineering studies and we will be in production within a very short period of time – less than 18 months.” The merger with B2Gold Corp was subject to a shareholder vote on September 15.
“The merged entity is on track for an overall production rate of 900,000 to one million ounces by 2017 and will be one of the few companies in the gold industry with a development profile and producing on a profitable basis,” Connelly said.
