Desert Gold Ventures Advances Despite Delays

Desert Gold Ventures has reported progress at its Barani East site in Mali. A 200 tonne-per-day gravity plant and a 650 kVA generator have arrived, a crucial step towards transitioning from exploration to gold recovery. However, commissioning is now delayed to late October, with initial processing expected in November. The delay is due to ocean freight, material shortages, and seasonal conditions.

The company's water supply situation has progressed, yet remains uncertain. Three boreholes have shown water flow, but the final report is pending. Desert Gold has not declared commercial production, nor completed a feasibility study.

Financing options include C$7.18m gross raised in February, with additional funds possible through warrants, potentially easing capital needs. Desert Gold maintains a Buy recommendation with a target price of C$0.93, depending on the construction and operations timeline actualizing as anticipated.