Mako looks to more than double Côte d’Ivoire landholding

By Trevor Hoey. Published at Aug 6, 2019, in Mining

Mako Gold Ltd (ASX:MKG) has lodged two applications for exploration permits with the Ministry of Mines in Côte d’Ivoire covering a total area of 296 square kilometres.

The Australian based exploration company has gold projects in Côte d’Ivoire and Burkina Faso in the gold-bearing West African Birimian Greenstone Belts, which hosts more than 60 +1Moz gold deposits.

If granted, these two new permits would more than double the company’s footprint in Côte d’Ivoire to 520 square kilometres.

The permit applications were strategically selected by Mako to cover significant greenstone-granite contact as these contacts present excellent targets for shear-hosted orogenic gold deposits.

The following map shows the greenstone/granite contact areas within Mako’s permit applications, and it also shows the location of the tenements of some of the world’s biggest mining companies in close proximity.

Of particular note is Barrick Gold’s 4.9 million ounce Tongon Gold Mine which is situated less than 30 kilometres from the tenements Mako has applied for.

This is not only significant from a geological perspective, but it would also place a prospective gold project in close proximity to Barrick’s processing plant.

It is worth noting that the tenement to the north which Mako has applied for is only 15 kilometres from the Tongon mine.

Permit applications have recently been granted within 3-6 months of applying and provide the title holder with 100% ownership of the permit.

Gold hits six-year high

Shares in Mako surged 20% in July on the back of promising exploration results and a substantial uptick in the gold price.

Given the precious metal hit US$1486 per ounce overnight, predominantly due to safe haven buying, share prices of companies such as Mako could receive another boost today.

Not only is the gold price poised to surpass the psychological US$1500 per ounce mark, but it is now trading at levels not seen for more than six years.

While it is not guaranteed that the permits will be granted, Mako has no reason to believe that the Côte d’Ivoire Ministry of Mines would not approve the applications and grant the permits.

To management’s knowledge, no previous work has been completed on these tenements, and the company’s intention would be to commence exploration shortly after the granting of the permits.

Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!