Farafina Gold Group SA is a Guinean goldmining holding company, operating in a region which has been renowned for its gold mines since the 13^th century. Since 2013, the Company has been carrying out an exploration programme on a territory extending over 500 sq. km. Based on the assessment results, management isolated properties stretching across 350 sq. km. for further exploration surveys, and secured a semi-industrial license for a property of 16 sq. km.  

At present, Farafina owns five exploration licenses and one mining license via its 100% subsidiaries. A second mining license has been presented to the Guinea Ministry of Geology and Mining and is currently awaiting the approval of the President of Guinea.

The discovered gold reserves as of June 30, 2019 comprise approximately 50 tons (approximately 2 million ounces), including high-grade reserves of approximately 3,5 tons (120 thousand ounces) and reserves prepared for mining of 1,2 tons (36 thousand ounces). Underground shaft construction has commenced and mining works are scheduled for the fourth quarter of 2019.

The geological exploration and goldmining activities are carried out with the application of the most advanced technologies, including:

• • An expert software system for the modeling and development of mines: Micromine Intuitive Mining Solution,
  • Modern approach to aerial photography and cartography,
  • Exploration drilling equipment: Boart Longyear
  • Retsch and Sepro Systems equipment for gold assays and gold ore extraction,
  • Fail-resistant drainage systems on the basis of Sulzer pumps.

The Group has developed a sophisticated infrastructure network near the licensed properties, including living quarters, warehouses, manufacturing facilities, autonomous electricity generators, a fleet of vehicles, and more.

The Farafina Gold Group Board of Directors and management team is comprised of executives with decades of international experience and degrees from elite universities as well as Guinean personnel. The Company aims to amalgamate international best practices with local expertise to optimize our managerial processes.

Farafina has been based in Guinea for over five years. Its continued presence in the community has enabled the Company to develop deep business and personal connections with its people and create a number of well-compensated job opportunities for local residents. The Group takes its social responsibility very seriously. Farafina strives to make its mining activities environmentally sustainable and provides continued assistance to the community with construction, education, and availability of clean water.

The Group’s financial, geological and technical reports are prepared in accordance with IFRS and JORC standards. The statutory documents for its securities are guided by US and British Commonwealth standards. Separate reports are prepared to comply with the Republic of Guinea requirements. As of June 30, 2019, the consolidated Group assets are valued at approximately $90 million.

The Company is getting ready for a public listing of its stock and tokens in accordance with stringent British Commonwealth standards. Management expects that trading of its securities will commence in Q1 2020. A pre-sale of Farafina securities tokens has already commenced, as per the terms and conditions of the Private Offering Memorandum.

The near-term objective is to increase production to 0,5 – 1 kilogram per day. In the medium-term, the Group is expected to produce approximately 1 – 1,5 tons (46 thousand ounces) per annum. Based on a conservative analysis of the potential of Farafina licensed properties, the strategic prerogative is to increase the resources to 150 tons (4-5 million ounces), with reserves prepared for mining of approximately 10 tons (300 thousand ounces). In this scenario,  the Group valuation is estimated at approximately $200 million.