We continue to raise funds in order to increase the efficiency of our current operation and ultimately, invest in expansion. Funds from U.K. and European investors are being used to modernise our operation and enhance our current plant and equipment, investing in renewable energy and all that goes with mining our further concessions which combined, total 66 square kilometers of proven gold rich reserves for which we hold the exclusive rights.
To ensure we are as efficient as possible and to grow responsibly at pace, we will be using funds for:
Funding from our U.K. investment partners will significantly increase production and efficiency and create increasingly healthy levels of profit. As more profit is retained, the expansion plans will be accelerated. Ultimately, we are building up to a position where all of our 12 concessions are mined to their full capacity. We also have options to acquire more concessions if we wish and continue to expand our current operations in future years.
Our general strategy is twofold:
Our continuous aim is to reduce the average cost per kilo of gold mined. Currently, our largest costs are diesel, lubricants, plant repair and maintenance.
With the experience gained from establishing our large concession, we have gradually reduced the cost per kilo of gold mined. This can be reduced even further and can be replicated in each concession we make operational. Ways to do this include:
From the success of our current operation and the things learnt along the way, we have an extremely solid foundation to build upon.
We have concessions across Ghana waiting to be exploited and our objective is to mirror our current success in all of these – and more.
To aid us in achieving our goals, some of the advantages we have include: