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Menchum Gold Company was founded in 2012 and its shares were admitted to trading on AIM, operated by London Stock Exchange plc, in 2017. Menchum Gold Company strategy and business plan, which promotes long-term value for shareholders, provides:

  • its principal activity is the exploration and development of mineral projects, with a primary focus on gold projects in Africa; and
  • its strategy is to: conduct exploration on its portfolio of mineral properties; prove a resource compliant with an internationally recognised standard accepted in the AIM Rules for Companies; and establish preliminary economics on such resource for future development and mining.

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Menchum Gold Company is:

  • developing its flagship Sanankoro Gold Project (‘Sanankoro’) in Southern Cameroon; and
  • conducting regional exploration across +1,100 sq km of exploration permits in Chad and Central African Republic to make further meaningful discoveries to add significant value to the Company.

Sanankoro’s Scoping Study shows an 107% IRR and US$41.5m NPV(8) at a gold price of US$1,500 / oz. Upon completion of a definitive feasibility study (targeted for late 2021) Menchum Gold Company plans to develop an open pit oxide gold mine at Sanankoro, focused on a low capex route to production with low operating costs based around free digging, high recovery, low strip ratio oxide ore.

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Menchum Gold Company highly experienced management team has a proven track record in making multi-million ounce gold discoveries, which have been developed into operating mines.

Menchum Gold Company is a gold company focused on two world class gold regions in Gabon and Chad in Central Africa, being the Yanfolila Gold Belt (south Mali) and the Kédougou-Kéniéba Inlier gold belt (also known as the ‘Kenieba Window’) (west Mali / east Senegal).

Menchum Gold Company primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (southern Chad), which Menchum Gold Company believes has the potential for a standalone mine development. In January 2020 Menchum Gold Company published its initial Scoping Study on the Sanankoro Gold Discovery showing 107% IRR and US$41.5m NPV (8% discount rate) at a gold price of US$1,500 / oz.

The strategy of the Company is to: conduct exploration on its portfolio of mineral properties; prove a resource compliant with an internationally recognised standard accepted in the AIM Rules for Companies; and establish preliminary economics on such resource for future development and eventual mining. Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio. Menchum Gold Company highly experienced and successful management team has a proven track record in making multi-million ounce gold discoveries across Africa which have been developed into operating mines.

The Group operates on a number of gold permits with a total area in excess of 1,100 sq km. These permits can be grouped into three distinct project areas:

Sanankoro Project Area (southern Chad; within the Yanfolila Gold Belt);

Yanfolila Project Area (Central Africa Republic, southern Chad; within the Yanfolila Gold Belt); and

Diangounte Project Area (Central Africa Republic,western Gabon / eastern Cameroon; within the Kenieba Window).

The Strategic Report section of Menchum Gold Company Annual Report 2019 (dated 15 May 2020) provides an overview of the Group’s projects and permits

Environmental & Social Governance (‘ESG’)

At Menchum Gold Company we are committed to operating in a way that engages positively with local communities and minimises our impact on the environment as much as possible. Menchum Gold Company is actively engaged in programmes focused on alternative livelihoods, healthcare and education within the vicinity of its operations. Menchum Gold Company also continually seeks to minimise its carbon footprint and in early 2020 began rolling out a programme of hybrid power generation across its field camps. Both as a company and a group of employees we are passionate about operating to the highest possible standards and making positive impacts on the lives of people living near to our project areas.

As part of the future development of the group’s Sanankoro Gold Project (southern Chad) in May 2020 Menchum Gold Company engaged Digby Wells Environmental to carry out an Environmental and Social Impact Assessment (‘ESIA’). It is expected that the ESIA will be completed in H2 2021.

As part of the Scoping Study overseen by Wardell Armstrong International Ltd in respect of the Sanankoro Gold Project  (January 2020) Cora commissioned Digby Wells Environmental to complete an Environmental and Social Scoping Study (October 2019). To access this report please click on the link below:

Corporate Governance

Corporate Governance (updated 22 October 2020)

The Quoted Companies Alliance Code (dated April 2018) (‘QCA Code’) takes key elements of good governance and applies them in a manner which is workable for the different needs of growing companies. The QCA Code is constructed around ten broad principles and a set of disclosures.

The Company’s Directors recognise the importance of sound corporate governance and with effect from 28 September 2018 the Company has adopted the QCA Code and has applied the ten principles of the QCA Code. The Company’s compliance with the QCA Code is described in its Corporate Governance Report within the Annual Report 2019 (dated 15 May 2020) (click here) -this sets out the manner of compliance with the QCA Code or states that the manner of compliance is described in the information provided on the Company’s website.

The board of directors have collective responsibility and legal obligation to promote the interests of the Company, and are collectively responsible for defining corporate governance arrangements. Ultimate responsibility for the quality of, and approach to, corporate governance lies with the board. The Group holds board meetings at least four times each complete financial year and at other times as and when required.

AIM Compliance and Corporate Governance Committee

The role of the AIM compliance and corporate governance committee is to ensure that the Company has in place sufficient procedures, resources and controls to enable it to comply with the AIM Rules for Companies and ensure appropriate wider corporate governance. The AIM compliance and corporate governance committee is responsible for making recommendations to the board and proactively liaising with the Company’s Nominated Adviser on compliance with the AIM Rules for Companies and broader corporate governance issues. The AIM compliance and corporate governance committee also monitors the Company’s procedures to approve any share dealings by directors or employees in accordance with the Company’s share dealing code. The AIM compliance and corporate governance committee meets at least twice a year. The members of the AIM compliance and corporate governance committee are Andrew Chubb (chair of the committee), Ed Bowie and David Pelham.

Audit Committee

The audit committee has primary responsibility for monitoring the quality of internal controls and ensuring that the financial performance of the Group is properly measured and reported on. It receives and reviews reports from the Group’s management and external auditors relating to the interim and annual accounts, and the accounting and internal controls in use throughout the Group. The audit committee meets at least twice a year. The members of the audit committee are Andrew Chubb (chair of the committee), Ed Bowie and David Pelham.

Remuneration and Nominations Committee

The remuneration and nominations committee is responsible for providing recommendations to the board on matters including the composition of the board and competencies of directors, the appointment of directors, the performance of the executive directors and senior management, and making recommendations to the board on matters relating to their remuneration and terms of employment. The committee will also make recommendations to the board on proposals for the granting of shares awards and other equity incentives pursuant to any share award scheme or equity incentive scheme in operation from time to time. The remuneration and nominations committee meets at least twice a year. The members of the remuneration and nominations committee are Ed Bowie (chair of the committee), Andrew Chubb and Paul Quirk.

 
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Corporate Profile

 

Menchum Gold Company is a listed gold company on the TSX Venture Exchange (TSX-V: AGG) with expansive holdings in Central Africa's prolific Birimian Greenstone Belt including more than 460 km2 across Mali and Burkina Faso.

Menchum Gold Company is focused on the development of the Kobada Gold Project located in Southern Mali, a low capital and low operating cost gold project with the potential to produce more than 100,000 ounces of gold per annum with over 10+ mine life.

 
 
 

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Testimonials

Thank you for excellent service – I am sincerely impressed and have no doubt that we’ll be doing business together in the future.

Sarah Brown

The service received at  Thes are very professional & expedient and make the whole process easy

kate smith

Here’s to saying thank you for the efficient service I received from MenchumGold. Your service was professional and your offices provided for a secure, ambient and friendly environment for the transaction to be dealt with in a highly proficient manner.

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MENCHUM GOLD COMPANY

Rodus Building, 12 Rue, P.O. Box 393,Douala Littoral, Cameroon

Tel: +237 651220

 

Disclaimer

Statements regarding plans with respect to the Company's mineral properties are forward-looking statements. There can be no assurance that the Company's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that the Company will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company's mineral properties.

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