📋 Tender Overview
Scope :
The Coka Rakita project in Eastern Serbia is estimated to have a mine life of ten years. The Coka Rakita project, situated in the eastern region of Serbia, is being developed as an underground mine.
The mine is wholly owned by Dundee Precious Metals (DPM), a Canada-based gold mining company.
The preliminary economic assessment (PEA) was completed in June 2024, with an initial capital cost projection of $381m.
The project is estimated to yield 164,000oz of gold in the first five years followed by 129,000oz for the remainder of the mine life.
The Coka Rakita project is estimated to have a life of mine (LOM) of ten years.
The pre-feasibility study of the project is anticipated to be completed by the first quarter of 2025 while the first concentrate production is expected by 2028.
Coka Rakita project location
The project is located in the eastern part of the Republic of Serbia, approximately 25km north-west of the town of Bor. The project lies within the Coka Rakita exploration licence, which covers an area of 13.81km².
The project site is located 3km south-east of DPM’s Timok gold project.
Geology and Mineralisation of Coka Rakita
The property is located in the north-western section of the Timok Magmatic Complex in eastern Serbia. It is part of the Western Tethyan Belt and the broader Tethyan orogenic system extending from Western Europe to South-East Asia.
The primary type of mineralisation found within the Coka Rakita project is high-grade manto-like skarn gold-copper mineralisation.
Resources at the Coka Rakita project
The inferred resource at the Coka Rakita project is estimated to be 9.79 million tonnes (mt), grading at 5.67g/t of gold and 1.21g/t of silver, as of November 2023.
The contained metal is estimated at 1.78 million ounces of gold and 382,000oz of silver.
Mining method at Coka Rakita
The Coka Rakita project will be mined using an underground mining method via a sublevel stoping mining technique, which will involve dividing the ore body into horizontal layers, or sublevels.
The mineralised material between these sublevels will be extracted through a series of stopes. Each stope will be drilled and blasted using long holes, allowing the blasted material to be collected from the lower sublevel’s production drive.
The long holes measuring 89mm in diameter will be drilled in rings. These rings will be spaced with a 2.1m burden and a 2.1m toe spacing, optimising the efficiency of blasting and material extraction from the stope.
The stope design incorporates a width of 20m, measured perpendicularly to the production drive, and a height of 20m with each stope measuring 15m in length. The mining process will follow a retreating sequence, starting by advancing longitudinally toward the crosscut and then shifting to a transverse direction toward the hangwall contact.
The mining fleet is envisaged to consist of six 45t trucks, two production drills, booster compressor, transmixer, sho
