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Bonikro

RoyaltyUp to 4.5% NSR*
TermsCapped at 560koz production from PB5
Acquisition DateAugust 2022 (2.25%), October 2024 (2.25%)
LocationCôte d’Ivoire
CommodityGold
OperatorAllied Gold Corp (TSX: AAUC)
Mine TypeOpen Pit
Mine Life6 years (Operator Guidance)
Area1km2

The Bonikro open-pit gold mine is located in Côte d’Ivoire, 230km north-west of Abidjan. The project is operated by Allied Gold Corp and has Reserves of 571,000 ounces of gold as of December 31, 2023. The complex has produced over 1.4Moz of gold at an average grade of 1.63g/t since production commenced in 2008. The Project is comprised of the main Bonikro pit as well as the satellite Hire and Dougbafla deposits, along with a 2.5Mtpa processing plant.

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.

Elemental Altus’ royalty covers the entirety of the PB5 pushback, the next in a series of successive pushbacks of the open pit originally designed by previous operator Newcrest. The PB5 project has successfully ramped up since commencement in 2023, with an annual production run rate of 95,000-105,000 ounces across the entire project.

*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. The royalty is capped at 560,000 ounces of gold production and it is understood that the production cap will be reached during the current mine plan.

Bonikro 01

Photo Gallery

Bonikro Structure Bonikro Pit Bonikro Pit 2 Bonikro Pb4 Bonikro Layout Bonikro Geotech Bonikro Drill Data Bonikro Cross Section2 Bonikro Cross Section Bonikro Core Bonikro Cross Section Line

Sources

  • Allied Gold ASX Release titled “Allied Gold Announces Preliminary 2023 Operating Results, 2024 Guidance and Medium-Term Outlook, Highlighting Upside to its Sustainable Production Base with Improved Costs and Growing Mineral Inventory”, dated February 21, 2024 and effective December 31, 2023
  • Allied Gold Technical Report titled “NI 43-101 Technical Report for the Bonikro Gold Project, Republic of Côte d’Ivoire”, dated September 7, 2023 and effective July 5, 2023
  • For more information on Bonikro, please visit https://alliedgold.com/