Tietto Minerals Ltd (Asx:Tie)

Tietto Minerals (ASX: TIE) is West Africa’s newest gold producer, with its Abujar Gold Project in Côte d’Ivoire pouring first gold in January 2023. With a Mineral Resource of 3.45 million ounces of gold and Ore Reserves of 1.45Moz, a Definitive Feasibility Study (DFS) delivered for Abujar in October 2021 demonstrated Abujar can deliver annual average gold production of more than 200,000 ounces of gold per annum over the first six years of production at an average AISC of US$804/oz. The project has a payback period post-tax of less than a year from first production. Gold production at Abujar is unhedged and free of debt. Tietto is positioned to continue building its resource inventory at Abujar while ramping up gold production in 2023. Abujar is comprised of three contiguous tenements, Abujar South, Abujar Middle and Abujar North, over 1,114km² and features a 70km-long gold corridor. Less than 10% of the project area has been explored, providing plenty of exploration upside for Tietto to further grow its resource inventory. Abujar is ~30km from the major regional city of Daloa and close to excellent regional and local infrastructure including grid electricity. Tietto is investigating the viability of a second gold mine at the APG deposit, 7km from its Abujar operations, where a scoping study has identified potential for a heap leach operation that could deliver an additional 850,000oz of gold over 10 years.