East Africa Metals Inc.

Description

East Africa Metals Inc. is a Vancouver-based junior focused on gold-copper-silver-zinc VMS projects in northern Ethiopia and Tanzania. Its flagship is the 70%-owned Harvest project in Tigray, Ethiopia, hosting the past-producing Terakimti oxide gold deposit alongside sulphide resources. The company also holds a 30% net profit interest in the neighbouring Adyabo property, operated by Tibet Huayu Mining, and full ownership of the Magambazi gold project in Tanzania through its subsidiary CTL.

A 2018 Preliminary Economic Assessment on the Terakimti Gold Heap Leach Project outlined a 4-year mine life, average annual production of approximately 17,800 oz gold, post-tax NPV(8%) of US$13.2 million, IRR of 30.1%, initial capex of approximately US$17.2 million, and AISC of US$649/oz. No PFS or DFS has since been completed on Harvest, Adyabo, or Magambazi. The Magambazi asset in Tanzania is currently the subject of an unresolved ownership/licensing dispute and a pending related-party MOU to convert EAM's interest into a royalty.

List of projects
1. Harvest Project (Terakimti) — 70% interest, Tigray Region, Ethiopia; metals: Gold, Copper, Silver, Zinc.
2. Adyabo Property (Mato Bula & Da Tambuk) — 30% net profit interest, Tigray Region, Ethiopia; metals: Gold, Copper, Silver.
3. Magambazi/Handeni Project — 100% owned via CTL subsidiary (subject to dispute and pending MOU), Tanga Region, Tanzania; metals: Gold.

Weakness

List of projects

Project details have not been added yet.

Deep dive series

Track progress timeline

Forecast share price