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Roxgold

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  360 Bay Street, Suite 500
Toronto, ON
Canada M5H 2V6
Tel No.: 416-203-6401
Fax No.: 416-203-0341
Web Site: www.roxgold.com
E-mail: info@roxgold.com
Contact Person: Graeme Jennings
Position: VP Investor Relations


Company Data

Traded Market: TSX
Traded Symbol: ROXG
Outstanding Shares: 372 million
Public Float: 83.2%
52 Week High: $ 1.62
52 Week Low: $ 0.56
Present Price: Click Here


Introduction

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Roxgold is a Canadian-based gold mining company with assets located in West Africa. The Company owns and operates the high-grade Yaramoko Gold Mine located on the Houndé greenstone belt in Burkina Faso, and is advancing the development and exploration of the Séguéla Gold Project located in Côte d'Ivoire.

Roxgold – West Africa's Next Multi-Asset Gold Producer

Proven Track Record of Creating Value

  • Committed to strong Environmental, Social and Governance (ESG) principles
  • Gold production of 32,812 oz in Q2 2020 at Yaramoko (32,380 oz in Q1 2020)
  • Industry leading margins of over $800/oz, generating cash flow from mining operations of $98 million last year
  • Resource Growth:
    • Maintained 7-year mine life at Yaramoko
    • Significant increase in Séguéla mineral resource in a year
    • Continue to grow value to shareholders on a per share basis

Attractive Growth Pipeline

  • Séguéla Gold Project – construction decision in H1/21
  • Exploration success as Séguéla continues to grow
  • Potential mineral resource growth at Yaramoko
  • Robust exploration pipeline in Burkina Faso (Boussoura) and Côte d'Ivoire

Disciplined Capital Management

  • Strengthened liquidity position to approximately $50 million at the end of Q1 2020
  • Disciplined approach to investing in growth through organic exploration and/or external opportunities


Projects in Hand

(1) Yaramoko Gold Mine, Burkina Faso

The Yaramoko Mine Complex consists of two high-grade underground gold mines: the 55 Zone and Bagassi South. Annual gold production in 2020 is expected to be between 120,000 and 130,000 ounces.

Q1 & Q2 2020 Production Results:

Q1 2020

Q2 2020

Ore mined (tonnes)

134,472

112,523

Ore processed (tonnes)

125,879

127,309

Ore Processed (tpd)

1,383

(26% above nameplate)

1,399

(27% above nameplate)

Average Head Grade (g/t)

8.7

8.2

Recovery Rate (%)

97.9

98.0

Gold ounces produced

32,380

32,812

Gold ounces sold

30,126

36,279

Average realized selling price (per ounce)

$1,595

$1,712

Yaramoko – Resource Growth

55 Zone

55 Zone high-grade shoot extends to 1.2 km below surface

  • 55 Zone remains open at depth
  • Significant history of resource replacement and conversion of Inferred to Indicated Resource
  • Improved understanding of key mineralization controls through detailed mapping and supported by geostatistics
  • Structural repetition of high-grade zones becoming apparent
  • Planning a dedicated underground drill platform in H2 2020
    • 14,000 m infill program for resource replacement
    • Depth extension drilling
    • Testing of parallel structures

Bagassi South

Bagassi South is the second high-grade underground gold mine on the Yaramoko property and consists of two gold deposits: QV1 Zone and QV' (QV Prime) Zone.

The QV1 Zone is the main deposit of the Bagassi South project and is geologically similar to the 55 Zone.

QV1 Structure offers potential for additional resource upgrade

  • Substantial upgrade of Inferred to Indicated and increase in Inferred
  • Deep drilling down plunge highlights structural continuity
  • Parallel shear structure: QV'

(2) Séguéla Gold Project, Côte d'Ivoire

  • Roxgold acquired the Séguéla Gold Project in April 2019
  • Property permit area of 36,300 hectares
  • Accessible year round by road
  • Located 240 km northwest of Yamoussoukro
  • Town of Séguéla is 20 km to the southeast
  • The Séguéla Project consists of the resource-defined, near surface Antenna, Agouti, Boulder and Ancien deposits that are ideally located near existing infrastructure including grid power, transport and water resources
  • Ancien is the highest grade deposit, which is expected to fuel first 3 years of production
  • Reported an updated Mineral Resource Estimate for the Séguéla Gold Project in January 2020 with Total Indicated Mineral Resources increasing 7% to 529,000 ounces and Inferred Mineral Resources increasing 1,286% to 471,000 ounces
  • A Preliminary Economic Assessment was announced for Séguéla Gold Project in April 2020 with after-tax NPV of $268 million and 66% IRR at a gold price of $1,450 per ounce and an NPV of $379 million and 88% IRR at a gold price of $1,730 per ounce
  • Séguéla is expected to produce over 100,000 oz of gold per year at all-in sustaining cash costs of $750/oz
  • Environmental and Social Impact Assessment (ESIA) on schedule to be filed in Q2/20
  • Advancing towards Feasibility expected in early 2021

Exploration Upside

Portfolio of near surface high grade deposits

  • High success rate with 5 out of 7 targets initially identified returning significant mineralization
  • Séguéla has over 28 highly prospective exploration targets with potential to increase resource base with low cost near surface ounces
  • Recent aeromagnetic program has highlighted several additional target areas and favourable structural repetitions (ex. Elephant)
  • At least 3 emerging structural corridors
  • Active artisanal workings at P1, P7 (Antenna analogues), Folly (Ancien analogue) recently identified
  • Eastern and Southern margins remain only lightly explored

Opportunities & Next Steps:

  • Delineating additional mineral resources and extend mine life through exploration
  • Optimize infrastructure
  • Underground potential at Ancien, Agouti, etc.
  • Testing of additional targets

(3) Boussoura Gold Project, Burkina Faso

Roxgold's new high grade discovery

Located approximately 190km south of Yaramoko, RC and core drilling at the Boussoura project has led to a new high grade discovery at Galgouli, and excellent results following up historic drilling at Fofora (refer to Company press release February 3 and 20, 2020).

  • Boussoura has seen little formal exploration activities since being acquired in July 2014
  • Project lies on the same greenstone belt as Yaramoko and other deposits (ex. Houndé, Mana)
  • Roxgold has drilled over 6,500 m in 40 holes
  • New high grade discovery at Boussoura


Management

Management and Directors

John Dorward, President & Chief Executive Officer, Director

Over 20 years of development and operating mines experience

Former Vice President, Business Development of Fronteer Gold Inc.

Former Chief Financial Officer of Mineral Deposits Ltd. and Leviathan Resources Ltd.

Vince Sapuppo, Chief Financial Officer

Over 15 years of senior finance, commercial and mergers & acquisitions experience in mining and energy sectors

Former General Manager Finance of Beach Energy Limited

Paul Criddle, Chief Operating Officer

Over 20 years of operating and project development experience

Former Managing Director of Matador Mining

Former Chief Operating Officer of Roxgold and Azimuth Resources

Eric Pick, Vice President of Corporate Development

Over 10 years of corporate finance and mergers & acquisitions in mining sector

Former Vice President, Investment Banking at Cormark Securities Inc.

Paul Weedon, Vice President of Exploration

Over 25 years of exploration, development and production experience

Former Exploration Director, Australia at Newmont Corp.

Former Vice-President, Business Development, Africa, and Geology Manager, West Africa at Anglogold Ashanti

Graeme Jennings, Vice President, Investor Relations

Over 10 years of capital markets experience with a focus in the metals and mining industry

Former VP Corporate Development & IR at Nickel Creek Platinum

Former Analyst at Cormark Securities

Oliver Lennox-King, Chairman

Richard Colterjohn, Director

Kate Harcourt, Director

John L. Knowles, Director

Norman Pitcher, Director

Jonathan A. Rubenstein, Director


News Update

On October 13, 2020, Roxgold Inc. has released additional results from the new high-grade prospect, Koula, at the Seguela gold project located in Ivory Coast. The highlight includes it drilled four m of 108.9 g/t Au at Seguela.

On September 30, 2020, Roxgold Inc. has released near-surface infill drilling results from the 55 zone at the Yaramoko mine complex, drilled as part of a review of opportunities for near-surface mineralization to complement our high-grade underground operations. It drilled 77.2 GPT over 6.0 metres in near surface.

On September 28, 2020, Roxgold Inc. announced that the Ivory Coast Ministry of Environment and Sustainable Development has approved the environmental and social impact assessment (ESIA) for Roxgold Inc.'s Seguela gold project. The ESIA marks a key milestone in the permitting process and is the culmination of extensive consultations and stakeholder engagement.

September 14, 2020, Roxgold Inc. has released new exploration drilling results from the company's Boussoura project, located in southern Burkina Faso. Roxgold reported 26.9 GPT over 4.8 metres at Boussoura as drill program continues to expand additional fofora vein sets.

On September 08, 2020, Roxgold Inc. has discovered a new high-grade prospect, Koula, at the Seguela gold project located in Ivory Coast. The company drilled 19m at 26.1 gpt AU and 12m at 32.1 gpt AU.

On September 03, 2020, Roxgold Inc. has released further infill and extension drilling results from the company's Ancien prospect at the Seguela gold project located in Ivory Coast. The company continued to return high grade gold assays including 19.8gpt over 12m and 57.7 gpt over 4m.

On August 11, 2020, Roxgold Inc. announced the second-quarter and first-half financial results for the period ended June 30, 2020. The company earned $7.46-million (U.S.) in Q2 2020 and record operating margins of $1,016/oz.

On July 29, 2020, Roxgold Inc. has released new exploration drilling results from the company's Boussoura project, located in southern Burkina Faso. It drilled 61 m of 2.5 g/t Au at Boussoura

On July 8, 2020, Roxgold Inc. has released its preliminary production results for the second quarter of 2020 from the Company's Yaramoko mine complex located in Burkina Faso.

On June 30, 2020, Roxgold Inc. announced that it has successfully executed documentation to refinance its existing Yaramoko facility and secure an additional US$20-million as a revolving credit facility to provide increased liquidity and financial flexibility.


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