Kosovo projects


Project overview.

The Slivova gold deposit is an intrusive related, stratiform massive to disseminated gold-bearing and base metal mineralogy hosted in Cretaceous aged calcareous sediments.






30.5 km2


Western Tethyan is Earn-in to 85% of the project. Predetermined Earn-in and development milestones

Recent work

 Surface geochemistry, MRE, PEA, EIA ongoing


Trenching, exploration and Infill drilling program, EIA, SIA


To two historical mines and four undeveloped deposits in 15km radius

 The conceptual DCF analysis shows the Project is economic with a pre-tax net present value (“NPV”), at 8% discount rate of US$27 million, and an internal rate of return (“IRR”) of 29% with upfront capital requirements of $33.4 million, and sustaining capital requirements of $9.4 million.

Results of extensive characterisation and testing of the Slivova ore by a range of methods suggest that treatment would be via carbon-in-leach (“CIL”) methods, delivering gold recovery of 92-94.5% and silver recovery of 19.8-22.5%. Some gold may be extracted via gravity recovery methods. Nominal plant throughput will be 142,000 tpa, with primary, secondary and tertiary crushing of the ore, followed by ball milling to 106 mm and leaching of the ore by CIL methods. Loaded carbon is stripped, with electrowinning and final EAF smelting of the doré to bullion on site.

A revised approach to the mining of Slivova involves a small starter pit to access the outcropping mineralised gossan area, followed by underground extraction of the gold resource below the open pit at an appropriate extraction rate to suit the size and grade of the deposit. 

The environmental and social work completed to date is in line with that required for the PEA based on the revised mining plan. No environmental or social fatal flaws have been identified and Bara is not aware of any environmental or social issue that would prevent the project from proceeding to the PFS phase, during which time various potential environmental risks would need to be evaluated further.

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