Scythian Mining Group Ltd's mission is to find one of the biggest gold deposits in the world
- Private UK gold exploration/development company operating in Kazakhstan
- Two large gold projects, both with mostly free gold, and each targeting a resource of 2m+ oz gold by early 2020 (4m+ oz total)
- Kokkus Gold Project
- Current JORC estimated resource of 5.0 Mt at 1.3 g/t Au for 197 k oz contained gold (indicated and inferred) which is only 5% of the strike length to be drilled
- Targeting initial 2m oz Au resource, with total resource potential believed to be 5+ million oz Au over 7 separate Au zones
- Current estimated resource based on only 5% mineralization length
- Geological model considered similar to massive Russian gold deposit, Sukhoi Log (Polyus, 63 Moz Au)
- East Balkhash / Dzharyk South Gold Project
- Current MRE JORC inferred resource of 5.24Mt at 0.933 g/t Au for 158 k oz contained gold, which is only 9% of the total area to be drilled. Current mapping has indicated 7 separate silica, illite, quartz stockwork alteration zones
- Au mineralisation flat lying and continues at a similar grade to depth
- Targeting a JORC indicated & inferred Au oxide resource of 1-2m+ oz Au by early 2020
- Classic structurally controlled porphyry gold model, depth potential for open cut Au mine operation +200m
- Raising US$8 million in pre-IPO fundraising, with IPO anticipated in late 2020
Scythian Mining Group Plan to IPO 2018-2019 & Beyond
Project locations
2018 Legislation Improvements Kazakhstan
An new Code on Subsoil and Subsoil Use came into effect on 29 June 2018 to bring Kazakhstan’s mining legislation more in line with competitive international models and boost investor confidence
Different regulation for mining and petroleum industries
A new simplified procedure for providing subsoil use rights, establishing and classifying mineral resources
Mining rights (except for uranium) will be issued on a first-come, first-served basis
Exclusivity guarantees to exploration license holders to obtain extraction licenses
Reinstatement of the license as the main title document for the mining activity
On 1 January 2018, a new Tax Code was adopted which contained several favourable changes for the mining sector
| Tax Code of December 2008 | Tax Code of January 2018 |
| Requirement for subsoil users to pay excess profit tax | No requirement for subsoil users to pay excess profit tax |
| Requirement for subsoil users to reimburse historical costs (i.e. expenses allocated by the state for exploration purposes in the territory covered by the subsoil use contract) | No requirement for subsoil users to reimburse historical costs |
| Requirement for subsoil user to carry out a payment of a commercial discovery bonus when minerals are discovered within the area covered by the contract | No requirement for subsoil users to carry out a payment of a commercial discovery bonus |
Scythian Mining Group
