Page 73 - pd296-August21-mag-web

Evolution Energy as a non-executive
director, along with former Walkabout
Resources Ltd chairman Trevor Benson
and ex-Syrah Resources Ltd executive
Michael Bourguignon.
The upcoming IPO is set to rake in
$22 million, of which $9.5 million will be
used to wipe an existing debt obligation.
Marvel will also be issued with $2 million
Marvel has built up a portfolio of more than 1,000sq km of prospective gold tenure in cash and retain $10 million worth of es-
Mali over the past year
crowed shares in the new vehicle.
Hoskins said the company was close
One of those projects, Yanfolila is just thing that can be economic, but we want to finalising terms with a “substantial
30km from the Hummingbird Resources to give it the best shot by first growing the strategic investor” which will cornerstone
plc mine of the same name. Exploration resource as big as we can,” he said. the IPO.
permits for that property and Kolondieba, “The long-term strategy we’re work- “One thing that will be a real focus for
also in southern Mali and along strike ing towards is to probably build our own Evolution is ESG,” he said. “Those three
from Firefinch Ltd’s Morila operation, are standalone mining operation [at Taba- letters get thrown around a lot, but the
still to be granted. korole]. It looks too far to truck to other fund that is looking to cornerstone this is
Hoskins said the next year would be gold mining operations, but equally we a specific ESG fund and will be ensur-
mostly focused on resource growth at look at that as an opportunity. Since the ing that Evolution is adhering to the best
Tabakorole, although the company would early 1990s, there’s been no regional ex- practice standards in that space.
be running high-level scoping study work ploration conducted through this region “We believe that committing to those
in the background. and given there’s already 1 moz and the things will be a pathway to unlocking
“We do believe the attributes of the structural setting we sit within, we’re con- the development financing to build the
project, being shallow and consistent fident if we apply systematic exploration [Chilalo] project.”
thickness, low strip ratio and excellent we can make additional discoveries.”
metallurgy, lend themselves to some- Hoskins is set to join the board of – Michael Washbourne

aUSTRaLIa’S PaYDIRT aUgUST 2021 Page 73