When Stan Bharti was appointed CEO of African Gold Group (AGG) earlier this month, he set a goal for the developer: To be a midtier African gold producer within the next two years.
On Tuesday, that goal looked ot be more within reach with the announcement that the former head of global miner Glencore’s Africa’s copper operations, Danny Callow, will join the company as COO.
Bharti said that Callow’s experience in managing capital projects, operations and building operating teams positioned AGG to make the jump from developer to midtier producer.
During his time at Glencore, Callow was CEO and executive director of Katanga Mining and CEO of Mopani Copper Mines.
“We could not be more thrilled to have Danny joining the team at AGG,” said Bharti.
Commenting on his appointment at African Gold, Callow said that he was excited to be participating in building another greenfield mining project in Africa.
“From the most recent site visit, there is significant potential upside in this project, with a large number of prospective targets yet to be drilled. Our primary focus is on optimsing the resource, completing a definitive feasibility study and upgrading infrastructure, so we will be well positioned to start construction in the New Year.”
AGG’s flagship project is the planned 100 000 oz/y Koboda mine, in southern Mali, about 30 km from Endeavour’s Karma mine.
The Koboda project has a 2.2-million-ounce resource and a 2016 feasibility study proposed a 50 000 oz/y mine that will operation for eight years. AGG is optimising the feasibility study and is now aiming for 100 000 oz/y. A bankable feasibility study should be completed by December.
AGG traded at 6% up on Tuesday at C$0.34 a share.