Argonaut recently visited Tietto Minerals’ (TIE) Abujar Gold Project in Côte d’Ivoire. Abujar comprises 70km of prospective strike along a prominent structural trend in the Hana‐Lobe Belt. To date, TIE has explored just 15km of this strike, but already defined a 2.15Moz resource after commencing drilling in early-2018. The site visit confirmed our view the project has considerable upside and will continue to grow with the ongoing 50,000m drill campaign. The Company is due to release an updated resource in Q3 2020, which we foresee growing to >3Moz with a significant lift in the Indicated category. An initial Scoping Study is due to be released in the current quarter. TIE is likely to be funded through to a decision to mine with ~$17m cash. Speculative BUY recommendation.
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