Gold mining company in Ghana
Tag: Ghana, mining, invest
Summary: AB Company is a gold mining company, registered in December 2008 in Ghana. It has detected the gold mine area located in the southern part of ADANSI. The project district is located in the western c…
AB Company is a gold mining company, registered in December 2008 in Ghana. It has detected the gold mine area located in the southern part of ADANSI. The project district is located in the western city, near WASSA, about 7h drive from the capital.
The company paid $12 thousand to relevant government to obtain the mining rights of the first 25 acres mining and future development in 57 acres mining in the government registration. The company is currently applying license of additional 75 acres mining. Gold is apart from the ground surface 15-22 feet, every ton extract can output 140g gold in average, of which gold occupied 95%, silver 3%, copper 2%. These gold reserves can exploit about seven years for large-scale mining.
The company has invested 70 million dollars for the right of land-use right and equipment purchases as following:
1) 2 sets excavators, price $50,000/per
2) 1 crawler loaders, price $61,000/per
3) 1 dump trucks, price $45,000 /per
4) 2 pickup trucks, price $20,000 /per
5) 1 load machine, price $25,000 /per
6) 10 sets washing and grinding machines, price $2200 /per
7) All generator and pumps, $7500 dollars
Company started to exploit in April , 2009. All of the processing was manual operation before all above equipments left from the United States to Ghana port in December 2010, with an average output gold 120-170 grams per day, five days work a week, and an output of 8.2 Kilograms of gold every week. After the above equipments had been applied, the output will be 2.12 kilograms, six days work per week, so that they can produce 12.72 kilograms of gold every week.
AB company shareholders include Ghana citizens who have been working in America for more than 10 years, and American citizens who have been engaging in African gold resources research work for more than ten years.
The company is now seeking $70 million dollars investment funds, 100,000 dollars in cash flow, 60,000 dollars for purchase of the production equipments. If the investment capital is available, they can output 12.72 kilograms of gold every week. Currently, the gold products can sell up to $42,000 each kilogram in Ghana. According to the most conservative way of calculating, the joint venture company annual average output is 1,200 kilograms, Price is $33,000/KG, annual sales amount is 39 million dollars, annual net profit is about 25 million dollars.
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