“If you look back at Aurelian’s first resource, it was 13 million ounces at Fruta del Norte. It was scaled back, but now the near-term opportunity is to do infill drilling and convert some of our indicated resource to reserve. Our probable reserve is only 67% of our indicated resource right now.”
“Although we received the final permit in December, we decided to wait until after the winter to commence production so as to hit the ground running. We have now started production when the gold price is more than US$500 higher from when we acquired and started building the mine two years ago. This has given us a great base to grow from.”
“The LP Fault is one of the largest gold targets in Canada considering strike length and depth potential and it behooves us as a company to show what a discovery of this magnitude can deliver. Drilling is key to put meat on the bones. Exploration highlights are important, but showing continuity and grade over distance is the real target here.”
Altamira is making the transition from an exploration to a production company at the perfect time for the price of gold, and an opportune time in Brazil – a pro-mining country that has streamlined its permitting processes.
The pre-release edition of Africa Energy 2024 comprises analysis based on over 80 interviews with ministers and leading executives from IOCs, NOCs, independents, associations, investors and service providers, to provide an in-depth and holistic view of sub-Saharan Africa’s ever-evolving energy sector.