After staying in Lonta for three days, we rushed non-stop to Bodonov, the capital of Benin, to visit the Oguta plantation being developed there and the first phase of the Oguta mining area that had just been constructed and put into operation.

Yibogu Mining has obtained a total of 1,000 square kilometers of gold exploration rights in Oguta. The current proven reserves are 900,000 ounces, and the C2 level reserves are estimated to reach 5 million ounces. The potential is much greater than that of the Yibogu gold mine.

It is almost the same as the combined gold reserves of the three gold mines of Fane River, Emerald Mountain and Nae.

The current investment in the mining area is only 20 million US dollars, and the scale of mining is seriously insufficient. In the future, investment will need to increase to 40 to 60 million US dollars to fully utilize the benefits of the Oguta gold mine.

Benin's Naie mining area still needs tens of millions of dollars in funds to update machinery and equipment, while the two gold mines located in the Fane River in Akwa Mamba region and the Emerald Mountain in Maritime Province, Ibogu Mining have just moved from Akwa

The authorities have obtained the mining rights and have only used a small amount of funds to make preliminary preparations.

At present, Cao Mo's capital pool has begun to recover, but if he wants to solidify what he has occupied in the past few years and then continuously convert it into profits, he is still short of funds, not to mention the bottomless pit of Wusang River Copper and Gold Mine.

.

The last stop of the inspection was Drake. The exploration team of Xinhai Gold has already entered the site and is preparing to start the exploration work for C2 level reserve evaluation.

The construction here is very fast. The main body of the small hydropower station in the upper reaches of the Wusang River, the new freight station, and the infrastructure of the mineral processing plant have been completed or are nearing completion. Next is the arrival of various mechanical facilities, installation and commissioning, and recruitment of employees.

Follow training.

Cao Mo's goal is to start trial production before the year.

In order to save transportation costs, the copper concentrate will be transferred to Draculamo Port. If all goes well, after the Spring Festival next year, the first shipment of copper concentrate can be transported to the copper smelting plant acquired by Xinhai Gold Mine in western Zhejiang for smelting.

.

There is nothing difficult about both parties signing such a supply agreement.

The pricing mechanism for copper concentrate is transparent. There are more than 100 large and medium-sized copper smelters in the world, more than half of which purchase ore globally. If Cao Mo hadn't wanted to reduce costs as much as possible, he could have mined copper concentrate.

Just transport the ore to Peimei Port and sell it to the swarming ore traders.

Even when new smelters are constantly being put into operation and the global supply of copper concentrate is tight, he has no problem waiting for traders to come to his door.

In fact, in order to truly squeeze transportation costs to a minimum and enjoy the tax incentives provided by the Akwa authorities on the export of industrial products, Cao Mo should directly build a copper smelting plant in Drake and produce anode copper (blister copper) before going overseas.

, but the key is that Cao Mo doesn’t have that much money...

The last stop of this trip was naturally Peimei. In the early stage, staff from Xinhai Gold and Sun Hung Investment had come over to do a lot of work. Qian Wenhan and Zhou Shenhe made this trip in person, and the wishes of both parties were almost clear.

Qian Wenhan hoped that Cao Mo would directly inject the US$30 million he loaned to the Gulf of Guinea Shipping and Mining Company, and then his Xinhong Investment would acquire 35% of the Gulf of Guinea Shipping and Mining Company from Tianyue Investment.

of shares.

The advantage of this is that transactions can be completed domestically, eliminating the cumbersome procedures for cross-border capital flows and foreign capital investment approvals.

The purchase price offered by Qian Wenhan was even slightly higher than the original agreement with New Steel Alliance.

Zhou Shenhe now also understood why Cao Mo was so vague about his cooperation on the Wusang River copper-gold mine project.

At this stage, he does not expect to be able to negotiate cooperation on this project. For both parties, the uncertain factors are too great. At least until the C2 level reserve assessment results are released after the year, there will be a basis for negotiation. He currently wants to cooperate.

, that is, selecting one or two projects from several gold mines owned by Ibogu Mining.

Cao Mo thought about it and decided to transfer the Fanie River gold mine project in the Mangba area directly to Xinhai Gold.

But it’s not that the Fannie River gold mine project with proven gold reserves of 800,000 ounces is not good, or that there are other uncontrollable factors.

Cao Mo mainly considered that if Zhou Shenhe gave up 20% or 30% of his equity in the Oguta gold mine project, which he was more optimistic about, Xinhai Gold would be more inclined to regard it as a financial investment in the short term.

This is not what Cao Mo needs to see.

Cao Mo hopes that Xinhai Gold will directly intervene in West Africa. He especially hopes that Xinhai Gold can independently develop the Fanie River gold mine so that Xinhai Gold can establish close ties with the local forces in Akwa in addition to them.

Down, they will be able to penetrate stronger influence on Akwa.

In addition, the Fanie River Gold Mine is located in the Mangba area, which is located in the same area as the Mangba Iron Mine, the final target of the New Steel Alliance. At present, only if Xinhai Gold is strongly involved, the pressure on Cao Mo will be slightly lighter.

Some.

But Cao Mo was not worried that Zhou Shenhe would wear the same pants as Yu Jinjie, Han Shaorong and others one day.

In addition to the grievances between Ge Jun and Han Shaorong, Zhou Shenhe, Qian Wenhan and Han Shaorong also had deep quarrels.

As the helmsman of Xinhai Gold, Zhou Shenhe only holds 3% of the shares. Han Shaorong once regarded Xinhai Gold as a new prey in the securities market. In order to control the stock price of Xinhai Gold, he once used tricks to remove Zhou Shenhe from the stock market.

He will continue to serve as the chairman of Xinhai Gold Industry.
Chapter completed!