Promithian Global Ventures, Inc.'s (PGVI) objective is to become a fully integrated miner, toll mill operator, refiner, and processor of precious metals. A fully integrated mill/refiner/processor of precious metals is capable of all services necessary to process other suppliers’ raw materials: hard rock ore, tailings, and gold dust. Promithian will eventually mine its’ own property and manufacture precious metals into alloyed products for the jewelry and industrial sectors of the economy: wire, plate, industrial products, etc.
The Aboso Mine is currently being used by small-scale miners, however, there is no local toll mill and those miners have to truck their ore a great distance - costing them time and money. There is a great opportunity here to offer local miners a more convenient local toll mill to process and sell their ore.
Promithian Global Ventures, Inc. plans to construct a potentially highly profitable toll mill near the workings of the historic Aboso gold mine to take advantage of lightly regulated local miners producing high-grade and low-cost ore and tailings in the area. Expected local miner/toll mill split of the revenue from selling the gold is 50%/50%.
Achievement & Traction
In March 2021 Promithian Global Ventures, Inc. (PGVI) concluded negotiations and signed a legally binding Agreement to purchase a 16.07 square kilometer gold concession covering the historic Aboso Mine in Ghana. The gold concession covers the locality of Abosso, in the Western Region of Ghana. Regulated hard rock mines in Ghana are producing gold at less than $800.00 US an ounce.
The concession covers the three shafts and twenty-two working levels of the closed Aboso Mine. The mine exploited a Witwatersrand Type conglomerate gold deposit from the early 1900’s through to 1956. In 1974 a full feasibility study was prepared on the property for the Government of Ghana. The Lonrho Feasibility Study documented the Aboso Mine Gold Concessions’ history and remaining resources:
The Promithian Global Ventures, Inc. has determined the following six sources of gold ore, tailings and gold dust exist within and around the Aboso Mine Gold Concession:
- Legal small-scale miners are using the existing shafts of the mine to enter the top 10 working levels to scavenge high-grade ore. They are recovering between forty to forty-five million US dollars’ worth of ore (with grades between 10 g/t and 80 g/t) a year. The small-scale miners are hand processing the ore and recovering approximately thirty percent of the gold.
- The small-scale miners’ tailings heaps have been tested and graded between 14.5 and 15.5 g/ton gold with a 93.4 % recovery rate.
- Dried tailings ponds containing 8,850,000 of original Aboso Mine tailings exist. Tailings from mills of that generation are mined and milled elsewhere and can assay from 2.5 to 4.5 g/ton. Five substantial pits exist on the property indicating tailings have been removed and trucked off the property. Processing already transported to surface, crushed, and ground tailings has an extremely low cost.
- Nearby small-scale miners are currently producing and trucking ore to two other toll mills in the region. An Aboso toll mill would reduce their trucking distance and cost. Over the course of a year, as their contracts expired, they would migrate to an Aboso toll mill. Grades vary but would average 5.5 to 7.5 g/ton.
- Nearby small-scale miners are currently producing and trucking dried tailings from closed mine site tailings’ ponds to two other toll mills in the region. An Aboso toll mill would reduce their trucking distance and cost. Over the course of a year, as their contracts expire, they would migrate to an Aboso toll mill. Processing already transported to surface, crushed, and ground tailings has an extremely low cost.
- Alluvial miners in the region produce a gold dust that could be purchased and refined in a Promithian refinery once phase two of the Aboso toll mill/refinery/processing plant is completed. This is the lowest cost gold of all and can be purchased for under $700.00 an ounce for cash at the miners’ location.
Our competition will consist of toll mills that will be further away from the mine than our toll mill - thus eating into the miners' time and profit, which, as long as we operate properly, eliminates them as viable competition for local miners.
Mine to high-end market is the Promithian Global Ventures, Inc. business model. It begins with a toll mill to take advantage of low-cost and lightly regulated small-scale miners in and around the Aboso Mine Gold Concession. This first step will be followed by refining, alloying, and finally manufacturing of high-value finished products in the jewelry and industrial industries. Nonetheless, the profits from a Promithian Toll Mill will be significant given the high-grade ore being produced by small-scale miners. Promithian believes it will produce gold at lower than eight hundred dollars an ounce. A greater than fifty percent discount to the current spot price!
Mr. Philip J. Wheelton, President and Chairman, has been the President of Promithian Global Ventures, Inc. since May 16, 2013. Mr. Wheelton has been the President of Promithian Inc., since January 1, 2001. He has over 25 years of experience as a private businessman and President of a number of publicly traded resource companies. In addition, he spent several years working in the North American securities industry with a number of Canadian investment firms. He graduated from the University of Western Ontario with a Bachelor of Arts (Honors) degree in Political Economy. Following this, he attended two years of graduate studies at McGill University, carrying out advanced work in the field of Political Economy. You can view his online resume profile on LinkedIn.
Dr. Seth Opoku, PhD., Director of Operations, is a holder of a PhD in Mining Engineering from University of the Witwatersrand, Johannesburg, South Africa; as well as an MSc in Mining Engineering and a Bachelor of Science (Honors) in Geodetic Engineering from Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, Ghana.
Dr. Seth Opoku has over 26 years mining engineering experience obtained in mine survey, short and long term mine planning and mining projects in the mining industry. He holds a Mine Managers Certificate of Competence from Minerals Commission in Ghana. He has worked in various mines and countries across the globe, notably among them are as follows: AngloGold Ashanti Obuasi mines and Adamus Resources Limited in Ghana, AngloGold Ashanti Siguiri mines in Guinea, AngloGold Ashanti Sadiola mines in Mali, AngloGold Ashanti Navachab mines in Namibia, AngloGold Ashanti corporate office in Johannesburg, AngloGold Ashanti Kopanang and AngloGold Ashanti Mponeng mines in South Africa. His project work for his PhD allowed him to know more about AngloGold Ashanti Geita mines in Tanzania, AngloGold Ashanti Sunrise Dam mines in Australia and AngloGold Ashanti Cerro Vangudia (CVSA) mines in Argentina. Mr. Opoku’s latest position was as Acting General Manager with Adamus Resources Limited in Ghana. You can view his profile on LinkedIn.
Mr. Stephen Mooney, P.Eng., Director, Secretary, was the Interim Dean, Applied Science and Management, Yukon College and the Director of the Yukon Cold Climate Innovation Centre also at Yukon College, from 2018 until 2022. Mr. Mooney is a Canadian Technology and innovations specialist who guides the development, commercialization and export of sustainable cold climate technologies. He promotes the practical application of cold climate technologies for subarctic regions around the world. From 2002 to 2010, Mr. Mooney worked in telecommunications for Northwestel in product development, product management and marketing while designing and pricing various technologies across Northern Canada. Prior to that, he spent half a decade developing and implementing computer software throughout the United States. Mr. Mooney is a Professional Engineer registered with the Association of Professional Engineers of Yukon. He has a Bachelor of Science in Industrial Engineering from the Technical University of Nova Scotia and has been certified in Professional Project Management. You can view his online resume profile on LinkedIn.