The Phase 2 expansion was successfully completed in the third quarter of 2022, establishing Jacobina’s sustainable production profile at 230,000 ounces of gold per year, as grades will increase throughout 2023 due to the reduction of reliance on stockpiles, combined with access to higher grade zones. The Company has now begun pursuing the Phase 3 expansion to 10,000 tpd through continued incremental debottlenecking. With the permit to 10,000 tpd already in hand, Phase 3 is expected to increase gold production to approximately 270,000 ounces per year by 2025. The Phase 4 expansion, of up to 15,000 tpd, would increase gold production in excess of 350,000 ounces per year. To achieve the target throughput rates, a third grinding line would be added as well as an expansion of the leaching and CIP circuits. A comprehensive plan, aligning the processing plant, underground mine, and tailings management strategy, while managing capital expenditures and cash flow, is underway. |