Core Viewpoint - Compass Gold Corporation is on track to commence gold production at the Massala prospect within the next 60 days, contingent upon receiving a Small Mining Permit [1][3][7]. Company Updates - The company has nearly completed the necessary work for the Small Mining Permit application, with remaining environmental and social impact studies expected to be finalized soon [3][5]. - A co-production agreement with the nearby SMAT processing facility positions Compass to start production shortly after obtaining the permit [3][6]. - The company aims to demonstrate cost-effective, near-surface mining that benefits both the local community and shareholders, especially in the context of rising gold prices nearing US$3,000 per ounce [4][6]. Production Capacity and Plans - Upon receiving the Small Mining Permit, Compass plans to produce up to 160,000 ounces of gold over an initial four-year term [7][8]. - The SMAT facility, located 2 km from the Massala site, will process both SMAT gold ore and bulk samples of Massala ore to optimize gold recovery processes [6][8]. - The mining operation is designed to process up to 100 tonnes of ore per hour, adhering to the Malian Mining Code for Small Mines [8]. Environmental and Community Engagement - Environmental and social impact studies are expected to be completed within the next 30 days, with ongoing community engagement to maintain positive relations [5][7]. - The project viability study and mine closure plan have been completed, fulfilling key requirements for the Small Mining Permit application [5][7].
Compass Gold on Track to Commence Production at Massala Within the Next 60 Days