Thanks very much. I'm Matthew from Robex. This deck normally takes me about 45 minutes to get through, so I'm just gonna have to rush. Here we go. Forward-looking statements, summaries. We're really a development-based company with a small operating asset in Mali. We've got a 50,000-ounce per annum operating asset in Nampala. It's in southern Mali. It's a free cash-generating asset. Obviously, Mali is not the most easy jurisdiction to deal with at the moment, but we're very, very close to settling, as all the other major miners have done in the region, and we're gonna move forward with that.
We're actively trying to divest that asset and running a process, but we're, you know, obviously cognizant of the fact it does bring in free cash for the next four years, so we're working out what the best option is there. The story we've got here to tell is the Kiniero project, which is in Guinea. I don't really have to introduce Guinea after Andrew's last presentation. It is a massive development region. West Africa is obviously the biggest gold-producing region in the world. Guinea contributes significantly to that, and the Siguiri Basin is just a super rich, you know, strike of gold. It is our corporate snapshot post our last raise. We raised 126 million over a three-week whirlwind roadshow.
BlackRock, Cornerstone, T. Rowe, sorry, Merk, Schroders, Caisse, Franklin, CQS, and Cormark came in as well. Taurus also put their money where their mouth is and came in with an equity piece to back up their current bridge facility. That's the board and leadership team as it currently sits. We did a full reset after I came in. Jim Askew graciously agreed to join the board. He adds a huge wealth of experience after a forty-five-year career in mining. Also, John Dorward of Roxgold and current Ausgold. Howard, who's a very experienced exploration geophysicist, you know, to his credit discoveries of Agbaou and Syama in his previous days as a BHP ex-exploration guy. Gérard and Thomas remain on the board.
Gérard's an exploration geologist, currently on the Murchison advisory committee, and Thomas is a BNP Paribas debt banker, who's helping us navigate the debt process. Yeah, so that was our objectives that we put out in the last raise. We've appointed myself and the team. Our team's been together pretty much unbroken since about 2011, and we've moved to our fourth different company now, and this is about our fifth different mine in West Africa and sixth over the last thousand years overall. We're on track to pull gold by the end of next year. We're rushing through and ordering long lead items, at the same time, updating our DFS.
The Mansounia pit, which we'll get to in a minute, was a massive game changer, and it brought a huge low strip ratio, oxide pit to the project, and that obviously required a different sizing of the process plant, and we're working through that now. We've locked in our long lead items, and we're moving towards first production rapidly. That was the 2023 DFS. We're hoping to improve on that significantly. We've already drilled out 300,000 indicated ounces out of Mansounia that we're expecting to... Well, they will be in the current reserve shell, and we're running a 35,000-meter drill campaign now, both geotech and diamond, to sort of define the geotechnics and further infill the rest of Mansounia.
So we'll have that drilling campaign completed by the end of this month. The database should be done a month after, and we'll be moving forward pretty quickly to publish that. So, at the same time, we're moving pretty quickly to try and de-list from the TSX and re-list on the ASX through an RTO vehicle. That should hopefully be announced later this month. So that's where the process plant where it currently sits. It's been cleared. It's all ready. We've got sheds and other infrastructure up. This was the SEMAFO mine between 2002 and 2012, the Kiniero mine. They mined essentially that hill behind you. You know, an average grade of three point five grams per ton out of the, you know, small pits.
A very small process plant at 0.5 million tons per annum. It made approximately 500,000 ounces of gold over the ten years that it ran for. And in 2012, SEMAFO were faced with, you know, either deploying capital to increase the size of that process plant or developing the Mana project in Burkina Faso, and they essentially locked the doors, handed the keys back to the government, and it sat where it is for essentially the next ten years before it's come to Robex. So that's just a quick overview of the plant. Right, I'll skip through it quickly. These are SEMAFO's old pits. That's some of the steepest wall angles I've ever seen in saprolite.
That's been standing for a dozen years in that section, and standing under it makes me nervous, but it's, you know, it shows you that you've got relatively good geotechnical strength in your saprolite, which really overall adds to the, you know, tightening of the walls and hopefully gives us better strip ratios when we finish this round of DFS. So that's. Yeah, sorry, looking at our process plant. I'll skip past that, go straight to our. Sorry, that's not where I want to go. So this is the pit that really changed the game, and this is what brought me to Kiniero, especially is Mansounia. As you can see there, the green shell's inferred, the blue's indicated. So the blue rock makes up roughly 30% of the overall resource there.
It was 300,000 inferred ounces before the infill campaign, and it converted to 300,000 indicated ounces, and it upticked on grade from about 0.92- 1 gram a ton with that drilling campaign. So we're busy now drilling out the rest of that pit to an indicated basis of a 30-by-30 pattern. We're also putting a few deeper holes in there to hopefully increase the overall inferred resource below the current pit shell. So it's busy, it's ongoing. We should be finished drilling by the end of this month, and yeah, hoping, looking to update that database. What we've seen so far is, it's just every single assay is mineralized. There is nothing in that pit that doesn't have gold in it. There's almost no zeros to date, so...
You see there, they're cross-sections, and people keep confusing them for long sections, but you've got sort of 700-meter wide mineralized zones. You know, it's, you know, relatively good grade. It's really low strip ratio. It should be about a 1-to-1 strip ratio pit, all in oxide. You got deep, deep oxidation, sort of at least 100 meters deep of oxidation to the fresh transition boundary. And, yeah, it certainly extends far below that. You've got a whole bunch of exploration holes that end in grade all around the permit, so. Flicking through. So Sabali was the known one. This made up the sort of core of the last reserve update, I guess. Sabali's a slightly higher strip ratio, but a slightly higher grade pit.
If you look in there, you still got really wide zones of mineralization, upwards of 70, 80 meters wide zones. You know, some of the hits in there are still pretty impressive, and what we really liked about it when we reviewed this is, we tested this zone at an eight-by-eight grade control pattern over a 200 by 200 meter area. When we remodeled it after the grade control drilling, we got a 15% uptick on grade and a 20% uptick on overall contained metal. So it... This is a deposit that holds together well under increased density of drilling, and it's certainly, we've seen that everywhere we've drilled it, you know, more dense to date, so. It's still a pretty impressive thing. You can see there, that's where our current reserve shells sit.
They're well above even the oxide transition boundary. We've got a lot of potential at depth. You know, it. And we've got a lack of met test work, I guess, to really prove it up, but, well, I think, you know, we're gonna be busy for years, you know, and a lot deeper these pits are gonna get as we progress work. It's just, it's a big structure. It's open at depth, open along strike towards Mansounia as well. So it's. We've pretty much been constrained by cash and the amount of drilling we've got so far, and, but there is a lot of data from the SEMAFO days. The property, including the grade control drilling done by SEMAFO, had six hundred and eighty thousand meters of drilling in it. So it's a data-rich environment.
The data is somewhat scattered, and we're still consolidating it, but it's really an exciting prospect. The SGA, which is, you know, the complex underneath where SEMAFO previously mined, so that's their old pits. You've got some really good hits in there at depth. We've got one deep diamond hole, you know, and we got, you know, six meters at five point four out of that. It's below our current reserve shells. We do, at some stage, have to put some work into stepping back and trying to hit that structure even deeper, but at the moment, it's not our priority list, 'cause we're trying to add to our existing reserves for this study. Certainly, early next year, we'd like to, you know, research this bit a bit more and see what we can.
If you look at the long section, it's actually pretty impressive. You've got some massive hits in there. You know, five meters at eight, five meters at nine point nine, nine meters at nine point four. You know, it's all mineralized. It's a little bit more complicated in its geology, but it's still... We've still left most of it out of our current pit shell. So there's a lot to go on here and a lot of work to do, but we're quietly confident that the results of our DFS are gonna justify a plus 10-year mine life with a production profile that makes significant cash, especially at this gold price.
That's been our exploration since 2020, where our discovery cost is about $10 an ounce, mostly because it's such a data-rich environment already from the old SEMAFO days. There's been just a you know an incredible amount of soil geochemistry. You can see there some of the geochem. This is... That's Mansounia. It's very indicative of where the resource sits. You can see it's open along strike to the south. It's actually open to the east. We haven't properly found you know the boundary of that pit to the east. And this little purple patch in the middle is where SEMAFO previously mined during 2002- 2012. So Sabali is up here. Sorry. We've got some very very interesting geochem anomalies up to the north there.
We've barely seen a drill hole, but we're hoping to, you know, to get into them probably towards the end of next year. And, yeah, you've got Predictive's Bankan deposit, which sits largely across the river, just over there, so it is a pretty good neighborhood. That's our timeline. I know it's aggressive. It's, you know, for someone that hasn't really updated their DFS, but we've locked in our long lead key items. We've got our power generators ready. We've got our mills ordered, and we've well and truly commenced engineering, so we're, you know, we're in a process of moving or migrating to the ASX, which should be done by the end of the year. We're gonna come out after that with our updated DFS and our...
We're gonna be 12 months away from first production with a, you know, I think what's gonna be a really exciting production profile for at least the first five years and just an incredible amount of exploration upside. That's where we're at the moment. Ball mills purchased, the oxide plant designs commenced. We've got Primero doing that out of Perth. My construction team has all come on board. They're all on site or in various places around the world. Mansounia infill campaign has commenced and is nearing completion. Power station supply purchase is complete, earthworks fleet purchase is done, and we're certainly a team that's done our own earthworks over the years, and we save a significant amount of cash that way.
So, we'll be launching into construction over the next few months, sort of in terms of locking down long lead items, and we'll. When we come out in the ASX, it's gonna hopefully come out with a big bang, so. That's what we're focusing over the next... We're really, you know, we're still producing cash flow in Kiniero in Mali, but we are focused on the development of Kiniero, and we're a team that's built a lot of mines in the past twelve years. They're the mines I've been directly responsible for. It's been three in Burkina Faso, one in Côte d'Ivoire, one in southern Siberia, which is by far the toughest one. But, yeah, it's, as you can see, in a dozen years, there's five mines.
Most of my team was together for the whole of those five years, so it's sorry, my time is up. I'm just watching now, so any questions quickly?
We don't have any time for questions unfortunately. No problem. But, thank you very much, Matthew, for presenting.