TAIA Lion Resources, Sierra Leone's leading gold exploration and development company, will work to secure fast track production and regional economic development, by processing it's gold ore body through an initial gravity feed cyclone recovery system.
Commenting CEO Ari Untracht said, "TAIA Lion Resources was set up to be in the gold business and to deliver economic returns to shareholders and stakeholders as fast as possible. Our strategy has always been to enter production as soon as possible and we are confident we can initially deploy a low cost gravity feed cyclone recovery system to help process our Gori Hills or Lake Sonfon ore bodies. This will enable TAIA to swiftly move into the the production and earning phase, albeit limited. Our company was set up to produce and if we can deliver small scale micro production of gold and begin our economic generation process early and build it up over time, I am convinced, in today's market,that is what both our shareholders and stakeholders want and importantly what the market will respect. All too often the mining industry takes an age to move from exploration to production. At TAIA we are in the mining business to generate money and we want to do that quickly and we make no excuses for that"
To enter large scale production TAIA still benefits from a low capex exposure of circa 70 million USD, a figure that is relatively easy to secure via standard project finance terms.
TAIA's plan to enter near term low cost low output production is the right approach and demonstrates that the board clearly places an emphasis on business generation, rather than market generation.
We like TAIA's approach.
