Stormlands finds 140% Mali gold project value uplift using dynamic modelling
Analytics platform Stormlands Mining finds in its latest case study that the net present value of the Kandiolé gold project, in Mali, can increase from $462-million to $1.1-billion using current commodity prices for economic modelling.
Using project owner TSX-V-listed Roscan Gold Corporation’s mine plan and economic data contained in a 2026 preliminary economic assessment on Kandiolé, Stormlands rebuilt a base case financial model for the project using a more conservative gold price of $3 100/oz, which finds an NPV of $461-million and internal rate of return of 48.9%, with a payback period of one year and nine months.
The analytics company then updated the model using the average March gold price of $4 877/oz, while keeping all other core assumptions on mine life, grade, production profile, operating cost and capital cost in tact, and found that the NPV increases to $1.1-billion.
This represents an uplift of about $648-million, or 140%, compared with the base case scenario.
In the updated commodity price scenario, the Kandiolé life-of-mine revenue increases by 57% to an estimated $4-billion compared with $2.5-billion in the base case scenario while life-of-mine earnings increased to $2.6-billion from $1.3-billion in the base case.
Stormlands CEO Róisín O’Connell says Kandiolé is another prime example of why mining project valuations need to be dynamic. “The technical report provides the foundation but commodity prices can move quickly and materially change the economic interpretation of a project.”
He further explains that the broader point is not simply that higher gold prices increase valuation. It is that once the technical report data has been structured into a dynamic model, users can immediately see how the project behaves under different market conditions.
“They can test gold price, operating costs, capital costs, discount rate, royalties, taxes and production assumptions, and understand which variables really drive value.
“Kandiolé is particularly interesting because the updated price case does not rely on distant late-life cash flows. A substantial part of the value uplift is generated early in the mine life, improving payback and strengthening the capital recovery profile,” O’Connell concludes.
