Koné Project

Flagship open-pit gold development complex ~350 km northwest of Yamoussoukro, comprising the Koné and Gbongogo exploitation permits (PE0062, 20 years; PE0061, 8 years), five exploration permits covering 1,699 km2 and one application for a 1,766 km2 total package; the State holds a 10% free carried interest. The 2024 UFS outlines a 16-year mine plan from the Koné South, Koné North and Gbongogo Main pits feeding a central 11.0 Mtpa HPGR/ball-mill CIL plant, with first gold targeted late Q4-2026 via a new oxide circuit and the hard-rock comminution circuit completing in Q2-2027. Construction launched December 2024 is on budget against an updated $884M capital estimate (UFS $742M) including a $25M oxide circuit and $25M of back-up Gensets; an owner-operated mining model with Neemba (Caterpillar) was adopted October 2025. The project hosts 8 satellite deposits plus Koné; an updated LOM plan is expected in 2026. Royalties: Triple Flag 2.0% NSR on PE0062; Barrick 0.7% and Endeavour 0.3% NSR on former Mankono ground. Development funded by the $825M Wheaton/Zijin streams and loans package.