Bonikro

The Bonikro open-pit gold mine is located in Côte d’Ivoire, 230km north-west of Abidjan and has produced over 1.4Moz of gold at an average grade of 1.63g/t of gold since production commenced in October 2008 under previous operator Newcrest Mining.

The Bonikro Project is comprised of the Bonikro open pit and the Bonikro 2.5Mtpa processing plant, as well as the satellite Hire and Dougbafla deposits. The Bonikro deposit lies within the Birimian Baoulé-Mossi Domain of the West African Craton, a prolific gold producing region. Mineralisation at Bonikro is interpreted as an intrusion-related gold system deposit overprinted with orogenic mineralisation. The deposit is comprised of a suite of sub-parallel quartz vein-filled structures exhibiting two geometries: those that dip to the northeast, and a shallower, west-dipping suite.

The Bonikro project is expected to produce 591koz of gold over a 7 year life of mine based on Reserves, with approximately 80% of production scheduled to be sourced from the Bonikro open pit. Elemental Altus’ royalty covers the entirety of Push Back 5, the next in a series of successive pushbacks of the open pit designed by previous operator Newcrest. Production from PB5 commenced during 2023, and is understood to be expected to achieve the cap during the current 7 year mine plan.

*Elemental Altus’ royalty operates on a sliding scale, with a maximum royalty rate of 4.5% NSR when the average gold price during the period is above US$1,450 per ounce.

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Sources

• Elemental Altus’ royalty operates on a sliding scale, with a maximum royalty rate of 2.25% NSR when the average gold price during the period is above US$1,450 per ounce.
• Sources:
• Allied Gold Technical Report titled “NI 43-101 Technical Report for the Bonikro Gold Project, Republic of Côte d’Ivoire”, effective July 5, 223 and released September 7, 2023
• For more information on Bonikro, please visit https://alliedgold.com/