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Toro's Mako exceeds expectations

Private gold miner Toro Gold’s first year of gold production from its 90%-owned Mako gold mine in Eastern Senegal has exceeded expectations, meeting or beating targets set out in the definitive feasibility study.
Toro's Mako exceeds expectations Toro's Mako exceeds expectations Toro's Mako exceeds expectations Toro's Mako exceeds expectations Toro's Mako exceeds expectations

Toro had a better-than-expected first year of output at its Mako openpit mine

Staff reporter

The year began with first gold poured ahead of schedule and under budget and ended with total gold output of 156,926 ounces, 17% above forecast, at an all-in sustaining cost (AISC) of US$700 per ounce, compared to the budgeted $798/oz.

This year, the company is aiming to produce 135,000-145,000oz of gold at an AISC of $820-860/oz.

Toro processed 1.8 million tonnes of ore during 2018 at a grade of 2.94g/t gold, up from the forecast 1.7Mt at 2.77g/t gold, with metallurgical recoveries of 95.5% exceeding the expected 91.8%.

Despite the good performance, the company is not sitting on its laurels.

It is undertaking an operational optimisation study for completion during the March quarter, including reviewing the mine plans, mill throughput capacity and operation cost control.

CEO Martin Horgan said the second half of 2018 had also focused on exploring the potential to extend Mako's mine life under the current pit through a 15,000m core drilling campaign.