Projects, Sierra Leone
90% equity interest
Nimini is a gold exploration and mine development company
with firm tenure over its Nimini Mining Licence in Sierra
- 25-year Mining Licence awarded in November 2012.
- Environmental and Mining Licences renewed and in good
- Independent potentially mineable Mineral Resource Estimate
as at June 2013 ("June 2013 MRE"), based on a
minimum true width of 1 metre and a 2.4 g/t gold cut-off
- Indicated Mineral Resources of 0.55 Moz (3.6 Mt at
4.69 g/t gold), and
- Inferred Mineral Resources of 0.34 Moz (2.6 Mt at
4.08 g/t gold)
- June 2013 MRE represented a 21% increase in Indicated
Mineral Resources to 0.63 Moz gold (4.8 Mt at 4.06 g/t gold)
at a 1.8 g/t cut-off grade and 60% increase in Inferred
Mineral Resources to 0.42 Moz gold (3.8 Mt at 3.47 g/t gold)
at a 1.8 g/t cut-off, compared to previous MRE (SGS Canada
Inc., June 2012) ("June 2012 MRE").
- June 2013 MRE provided a solid platform for progressing
the Preliminary Economic Assessment (PEA) by an independent
consultant, however, its completion now depends on further
discussions with the Sierra Leone government regarding fiscal
- Field programmes have identified targets both proximal
to the Komahun deposit and within the greater Mining Licence
area for future drilling to add to mineral resources.
The Mine Development Agreement was executed by the Minister
of Mines and Mineral Resources in February 2014. Nimini was
subsequently advised by the Minister that Government required
certain of the terms to be re-negotiated ahead of ratification
by parliament. The unfortunate outbreak of the ebola virus
disease has caused re-negotiation to be put on hold until
the State of Public Emergency has been lifted.
The ebola outbreak has resulted in Nimini suspending operations
at the project in the interests of protecting employees. A
core team on site ensures that assets are protected and maintained
in readiness for a resumption of site activities. Key skills
have also been retained.
Nimini has made a financial contribution to the Government’s
ebola fund and has assisted the local community in its fight
against the spread of ebola.
Nimini continues to support the communities within and adjacent
to its Mining Licence area through its Community Development
In January 2014 Nimini surrendered its Matotoka exploration
licence to focus its resources on the Nimini Mining Licence