Toronto, Canada – August 19, 2019 – African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce that SENET (Pty) Ltd, (“SENET”), has been awarded the contract to deliver an updated definitive feasibility study for the Kobada Gold Project (the “Feasibility Study”).
SENET is one of the leading project management and engineering firms in the field of mineral processing in Africa. It has delivered over 24 projects and studies in West Africa alone, and has a proven track record in taking projects from feasibility study through to production. “Our vast experience in Africa has proven that no two projects are quite the same, therefore our approach has been to cater to our client’s specific requirements”, said Darren Naylor, Managing Director of SENET. “We are excited to be awarded this study on such an exciting project, specifically one in Mali where we have been involved in several early stage projects. We are very excited to be given the opportunity to take this study through to engineering design of the mine, process plant and infrastructure. SENET’s has a proven track record in delivering projects on time and within budget and is looking forward to developing a mutually beneficial relationship with AGG.”
For almost three decades SENET has provided project management, multidisciplinary engineering, procurement and logistics management, and construction services to the mining and mineral processing industry. “We are very pleased to have SENET on board”, says Danny Callow Chief Operating Officer of AGG. “SENET has time and again delivered projects in remote countries, with logistical and cross-border challenges and this is the type of expertise we require to take Kobada to the ‘ready for construction’ phase. SENET has a reputation for delivering projects on time and within budget and this is why we have appointed them on this project.”
SENET will oversee and consolidate studies from a number of industry experts to fast-track the Feasibility Study, which already indicated significant upside potential, to enable AGG to start production on the exciting Kobada concession. The Feasibility Study is expected to be completed by April 2020.
About African Gold Group
African Gold Group is a Canadian listed exploration and development company on the TSXV (TSX V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.
For further information please contact:
President and Chief Executive Officer
(416) 861 2267
This press release contains “forward looking information” within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the intended use of proceeds, closing conditions and timing and other matters relating to the Offering, the Company’s development and exploration plans for the Kobada project and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “aims”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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