Sikaman, partner plan placer gold project in Ghana

ITM is a private Luxembourg-based company. The agreement calls for a new company to be established in Luxembourg which will acquire Sikaman’s 85% interest in the concessions. The new company, Roan Selection Trust Overseas, will be owned 60% by ITM and 40% by Sikaman.

An independent feasibility study carried out by Minproc Engineers of Australia recommends building a single plant to treat one million cubic metres of material annually. Average production of 17,000 oz gold per year at $166(US) per oz, based on the 7-year project life existing reserves would provide, is projected.

Sikaman reports a debt-financing package of $5 million(US) is being negotiated with banks. A project start-up is possible during the third quarter of 1990.

]]>

Print


 

Republish this article

Be the first to comment on "Sikaman, partner plan placer gold project in Ghana"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close