By:Ecofinagency

Blue Gold may secure new gold projects in West Africa, adding to its Bogoso Prestea project in Ghana. CEO Andrew Cavaghan hinted at this expansion on June 30, a few days after the firm’s listing on the American Stock Exchange, Nasdaq.

"Following this significant milestone, we are actively exploring several acquisition opportunities in West Africa and Latin America. These are gold assets in or near production and whose owners are keen to engage in share exchanges to boost their liquidity. We believe that this could present a short-term opportunity for our company to accelerate its gold output from a broader production base," the international press relayed.

While no details have been disclosed about the intended projects, the remarks underscore the growing interest of gold companies in the western part of Africa. The region already hosts established gold producers like Barrick Mining and Endeavour Mining and has seen rising investment in recent years. Just last week, Desert Gold announced the signing of an agreement to acquire 90% of the Ivoirian Tiegba project, while already developing the SMSZ project in Mali.

With the bullish gold market, which is currently trading above $3,000 an ounce, the climate is favourable. Blue Gold plans to update its growth plans "in the near future." In the meantime, the company strives to advance the Bogoso Prestea project, an asset acquired in 2024 with measured and indicated resources of 5.1 million ounces.

The development timetable and required investment for the project have not been revealed. However, Blue Gold aims to produce between 3,000 and 5,000 ounces of gold per month, before increasing this range to between 7,000 and 8,000 ounces.