The TSX-listed company (ROXG) said this week it had exercised its right to buy back the 0.3% NSR from one of Seguela's original owners, leaving a 1.2% NSR with another owner.
Roxgold is aiming to complete a feasibility study on Seguela, where it has produced a series of excellent drill results this year, in the first half of next year. Its preliminary economic assessment released in April had the project producing 841,000oz at an average 103,000oz a year (143,000ozpa in the first three years) at average AISC of US$749/oz over eight years.
The company is waiting on a mining permit and completion of the Cote d'Ivoire mining convention negotiation process.
Roxgold expects to produce 120,000-130,000oz at AISC of $930-990/oz this year from Yaramoko in Burkina Faso.
It is spending up to $25 million in 2020 on exploration and study work at Seguela.
"Initial site works will be commenced soon to enable a rapid construction ramp up following completion of the feasibility study," CEO John Dorward said when Roxgold released its third-quarter results this month.
"We currently have four drills turning at Seguela, with a focus on extension and infill drilling at Koula and the continued scout testing of the extensive portfolio of targets within our land package."
Roxgold has a market value of C$593 million with its shares trading at C$1.59.
