Source: Tietto Minerals
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Tietto Minerals (TIE) is on track to deliver first gold at its Abujar gold project in the Ivory Coast in Q4 2022 as it commences mining on site
  • The company is forecasted to produce 260,000 ounces of gold in 2023, uniquely positioning itself to advance its dual strategy of “Drill and Build” throughout 2022
  • So far, Tietto had mechanically completed its SAG mill, with linear installation approximately 50 per cent done at the end of October
  • Crushing is expected to commence this month while electrical substations are expected to be commissioned in November and energised in December
  • Shares in Tietto are up 0.63 per cent to close at 80 cents each

Tietto Minerals (TIE) is on track to deliver first gold at its Abujar gold project in the Ivory Coast in Q4 as it commences mining on site.

The company is forecasted to produce 260,000 ounces of gold in 2023, uniquely positioning itself to advance its dual strategy of “Drill and Build” throughout 2022.

So far, Tietto had mechanically completed its SAG mill, with linear installation approximately 50 per cent done at the end of October.

Further, structural mechanical piping and electrical and instrumentation installation is more than 52 per cent complete, with almost all material on site.

Crushing is expected to commence this month while electrical substations are expected to be commissioned in November and energised in December.

The Abujar camp is more than 90 per cent complete and is expected to be completed this month.

Currently, Tietto is finalising its life-of-mine (LOM) production plan using the current mineral resource estimate, increased mill throughput and higher gold prices targeting a material increase to existing LOM production.

Based on this, the company had expanded to incorporate a scoping study to determine the economic benefits of a heap leach operation running in parallel to the Abujar operation.

Tietto aims to complete 120,000 metres of drilling in 2022 with a fleet of eight rigs in operation at Abujar, and it is advancing construction of the process plant and associated infrastructure, which remains on schedule.

Shares in Tietto were up 0.63 per cent to close at 80 cents each.

TIE by the numbers
More From The Market Online
The Market Online Video

Webinar: What investors should know about what it takes for ASX-listed companies to get medical developments to market

Pharmaceutical companies can bring new hope to patients by delivering solutions to unmet medical needs. They…

Market Close: ASX inks 2 red days to finish off the week as sentiment stalls

There hasn’t been much change today. The market plunged and has hovered around 1.1% down ever…

Week 21 Wrap: NVIDIA’s profits are up 600% – but this time, the market didn’t really care

Not long now, and we'll be at the halfway point of the year. And while it…
The Market Online Video

Market Update: Energy the sole green sector as dull US mood sours Friday down under

The ASX is down nearly 1.10 per cent mid-session as Australian traders follow the lead of…