Centor continues to make a name for itself in Ghana with digs like their approximately 10k-acre Nobewam Project, about 20 to 30 miles outside of Kumasi in the prolific Ashanti Gold Belt (Kumasi Basin) and is losing no momentum with today's report of a key joint venture with established, well connected, small-scale mineral development company, Kilomax Mining Ltd., which is aimed at open-pitting the Ofosua Concession in eastern Ghana.
Kilomax enjoys a solid relationship and consistently close ties with primary local regulatory bodies, The Ministry of Lands and Natural Resources, as well as The Minerals Commission and has full PMMC registration (Precious Minerals Marketing Company Ltd., Ghana's official gold export processing agency). Kilomax brings a long track record of successes mining in Ghana and an incredible management team with decades in the game to the table here; they have also secured several 25-acre alluvial mining concessions.
President of Kilomax (which was formed in and is based in Ghana), Chris Ellom, is no stranger to doing the due diligence on gold concessions and even has the ear of both regional and tribal leaders in such matters, allowing CNTO to benefit greatly from these established relationships. The rest of the Kilomax management team is on par with their leader too; with Project Manager, Amoah Annan, having over two decades of experience doing small-scale and large-scale mining projects and their resident Geologist, Solomon Anum, also having 20 years plus experience in the industry, as well as several publications under his belt and a seat at the Ghana Geological Society as a Senior Member. CFO of Kilomax, Lowell Brittain, is no slouch either and has extensive experience handling the backend on multiple projects.
Ellom has earned an incredible reputation in Ghana, with a highly visible public track record of work with non-profits throughout greater Africa focused on helping the youth, as well as a glowing record for the company, both inside the industry and out, with a tremendous amount of capital and effort expended as part of community development programs. The company's social partnership approach is an industry exemplar in many ways and is a hallmark of strategically relevant managerial decision making. This is how you do it. You support the community which provides concession lands and its resident population for maximum operational stability, it is simple economics and CNTO is scoring a big win here via JV with such a respected regional operator. Kilomax really gets it and has forged its track record on the basis of a social partnership model that fuses economic and social returns across a matrix of educational initiatives and economic inclusion.
President and CEO of CNTO, Bradley Wilson, stressed the amount of attention put in over the last several months working directly with Ellom, Kilomax in general, and their team, intonating to markets that a symphony of mining is about to take place in Ghana for this JV. A harmony of elements no doubt and one that could lead to bigger horizons for CNTO in Ghana, as Kilomax has all the right connections to open doors for the company and Ellom's knowledge of the region's geologic potential, the logistics required to execute successfully, and his ties with tribal leadership will all be indispensable for the Ofusua Concession and beyond.
Wilson emphasized how the JV will not only provide a consistent revenue stream, but also support the company's other operations in Ghana and explained that a more comprehensive shareholder update (one that also includes details of the company's progress on the Nobewan Concession), was forthcoming.
The JV will be divided into four phases, the first of which will include an 80 tons/hour wash plant on two of the concessions in an area with a history of consistent, predictable output, where Kilomax's Geologist did the first bulk sample pit that indicated 0.8 to 1.2 g/t Au for production. That works out to around 70 to 140 ounces/month (at $1.4k per ounce we are talking $96k to $192k per month) from the proposed wash plant capacity and that figure could improve substantially as plans to use a 150 tons/hour plant are in the offing. The initial phase will serve as a model with more concessions/phases coming online as things progress.
To learn more, visit Centor at CentorResources.com
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