Pasofino Gold Ltd, a Canadian exploration and production company, has solidified its position in Liberia's mining sector by acquiring a 100% ownership interest in the Dugbe Gold Project. This strategic move not only enhances Pasofino's portfolio but also taps into Liberia's vast, untapped mineral resources, particularly in the gold-rich Birimian belt. The project, with a confirmed reserve base of 2.76 million troy ounces and a pre-tax net present value of $506 million at a gold price of $1,700 per troy ounce, stands as a testament to the region's lucrative mining potential. At a higher gold price of $2,500, the project's pre-tax NPV could soar to $1.52 billion, further emphasizing its economic viability.
Liberia's conducive mining environment, characterized by political stability and a pro-business regulatory framework, offers Pasofino a competitive edge. The Dugbe Gold Project's strategic location near the Greenville port facilitates efficient logistics and transportation, reducing operational costs. Pasofino's development strategy focuses on operational efficiency and sustainability, with plans for two open-pit mining locations featuring a low strip ratio of 3.52:1. This approach minimizes waste removal and operational expenses, while the incorporation of liquified natural gas and solar offsets reflects the company's dedication to environmentally responsible mining.
Under the leadership of CEO Brett Richards, Pasofino is actively working to enhance the Dugbe Gold Project's value through metallurgical studies aimed at increasing gold recovery rates from 83% to potentially 90%. Beyond its economic implications, the project represents a significant opportunity for Liberian economic development, with Pasofino engaging local communities and creating employment opportunities. For investors, Pasofino offers a unique opportunity to gain exposure to a promising gold development project without the complexities of physical gold investment. The company's approach combines financial potential with a commitment to sustainability and community development, making it a noteworthy venture in the gold mining sector.
