Scythian Mining Group Ltd (SMG) mission is to find one of the biggest gold deposit in the world.
Scythian Mining Group objectives are simple, find world class economic gold deposits at the lowest possible cost to shareholders to build a world class mining company.
To achieve this aim SMG have accumulated an experienced exploration and mining team with over 140 years of international experience and over 50 years experience in Central Asia. Central Asia was selected because it has the potential for world class deposits, and hasn’t had serious exploration in the last 50 years.
The deposits which SMG have selected Kokkus (very similar to Sukhoi Log, 64m oz Au) and Dzharyk South (a high grade Au porphyry system) are both potentially +20m oz Au.
Dalabai is a small operating mine which will fund the exploration for the next +4 years.
Scythian Mining Group Plan to IPO 2018-2019 & Beyond
Location of Gold Deposits
Round 1: Funding secured for $4m from large Russian investor (Russian Investment Group) All projects secured with signed SPAs and deposits paid totaling $1.7M…completed. $3 raised…completed
Round 2: $1M already raised to date.
- SSRUC East Balkhash has been extended for 2+2 years, and Kokkus SSRUC is under application to be approved in 2 moths for another 2 years to complete PFS and FS.
- Letter of Consent has been submitted for East Balkhash and final payment is due in 6 weeks.(Funds available)
- Letter of Consent for Kokkus has been submitted Kokkus resource increased by 255,000 oz Au
- Dalabai production up to 22kg/ month
- New Au porphyry system identified at EB
- Exploration 2018
- 10,000m drilling planned for Dzhark South
- To test the soil Au anomalies outlined by SMG
- In December 2018 to get a JORC Inferred resource.
|Current Resource Kokkus, C2|
|Tonnage||Au Grade||Au oz|
Target net profit in 2018 $5m pa, and 2019 $9m pa after tax
- In 2017, additional cone crusher allowing crushing of +55,000 tonne / month and a gold room added, reducing Opex cost by 10%
- These additions will allow for production to reach +15,000oz Au pa in 2018, at much lower Opex
- Plant 6 years old, but has been operational for only 3 years. Production max capacity of 20,000oz pa Au
- Excellent infrastructure, with the main Almaty-China highway going through the license, access to mains power and close to Saryozek
- Significant exploration upside around existing mine site with an additional Geological Allotment covering 9.5 sq km
- Additional 108,500 ozs Au will be added to the state balance in July 2018, bring the current oxide resource to 155,000 oz Au mineable oxide ore. (6 year mine life)
- Detailed independent production and geological DD was completed indicating 6 areas which can be updated to increase efficiencies which will result in production levels of 20,000 oz pa.