The Bankan Gold Project has reached a major milestone with a Definitive Feasibility Study that outlines a technically viable and economically robust development plan in Guinea. The project’s mine life is assessed at just over 12 years, with an estimated total gold production of about 3,026 thousand ounces, equivalent to roughly 249 thousand ounces per year. The study proposes a combination of conventional open pit mining and an underground operation, using proven drill‐and‐blast methods for the pits and a hybrid long-hole open stoping technique with paste fill underground. Economically, the DFS shows strong financial returns. At a benchmark gold price of US$2,400 per ounce, the pre-production capital cost is estimated at US$463 million, and post-tax cash flows yield a net present value (NPV) at 5% discount of approximately US$1.64 billion, with an internal rate of return (IRR) of 46% and a payback period of about 1.9 years. When evaluated against the current higher spot price around US$3,300 per ounce, the financial metrics improve significantly, with a post-tax NPV estimated at nearly US$2.9 billion and an IRR of 73% accompanied by a payback period of just over one year. The DFS includes detailed mine designs with a focus on maintaining a balanced ore blend to ensure efficient processing. For instance, the operation will treat different ore types—fresh, weathered, and lateritic—with dedicated crushing circuits and a grinding circuit designed to produce a grind size of 75 microns. Key metallurgical testwork indicates that high gold recoveries (averaging around 92.8%) are achievable using conventional carbon-in-leach technology, while approximately a third of the gold is recovered by gravity methods. In infrastructure terms, the project will feature a modern processing plant with a capacity of 4.5 million tonnes per annum, an on-site filtered tailings storage facility designed to mitigate environmental risks, reliable power generation using a hybrid heavy fuel oil plant complemented by a solar array, and extensive support facilities including access roads, offices, and an accommodation village. The DFS also details a comprehensive environmental and social management plan, with approvals in place from the Ministry of Environment and Sustainable Development ensuring that the project meets relevant national and international standards. The technical evaluation is underpinned by a rigorous compliance with JORC standards and includes extensive drilling and testwork, with most of the resources now classified as Indicated. The open pit ore reserve is estimated at 43.7 million tonnes at an average grade of about 1.39 g/t, while the underground reserve adds another 7.9 million tonnes at roughly 3.95 g/t. Overall, the project’s Ore Reserve is reported at 51.6 million tonnes containing approximately 2.95 million ounces of gold, achieved by applying realistic cut-off grades and key modifying factors such as dilution and ore loss. From a sentiment perspective, bullish investors may view the project’s robust economic indicators—high IRR, rapid payback period, and strong NPV—as very promising, especially given the upside potential if gold prices remain strong. The DFS demonstrates that the project operates with conventional mining and processing methods, which lower technical risk and support predictable cash flow profiles. On the other hand, bearish sentiment might focus on potential risks such as reliance on regulatory approvals (including exploitation permits), the inherent uncertainties in resource estimation particularly with parts classified as Inferred, and the significant upfront capital requirement. However, management’s detailed approach to risk mitigation and strong engagement with financiers helps balance these concerns. Overall, the DFS for the Bankan Gold Project positions it as a high-quality, low-risk gold development with strong financial returns and stable operating parameters, making it attractive to investors looking for exposure to gold mining fundamentals.