TIETTO MINERALS: $130M SPEEDS ABUJAR TOWARDS FIRST GOLD

The success of a $A130M placement will enable Tietto Minerals to accelerate the development of its 90%-owned, 3.35Moz Abujar project in Côte d’Ivoire, targeting first gold by year end and production of 260,000oz in CY2023.
Australian-based Tietto says its switch to full equity funding, from its previous project development facility, will accelerate development at significantly lower cost. Its optimisation work and greater contract certainty have substantially reduced capital requirements.
MD Dr Caigen Wang says Tietto has spent $US41M on Abujar development to end Feb, with $155M remaining firm or tendered to gold production.