Stormlands Case Study Raises Odienné Gold Project NPV by 153%
Key Takeaways
- •Odienné does not have a formal preliminary economic assessment, and Stormlands based its model on Awalé’s April 2026 NI 43-101 technical report.
- •Stormlands’ AI model raised the project’s estimated NPV by 153% to $2.25 billion from a $891.8 million base case at a 5% discount rate.
- •Using a gold price of $4,877.4 per ounce, the model increased life-of-mine revenue to $6.88 billion and EBITDA to $4.32 billion.
- •The model lifted IRR to 152.25% and reduced the estimated payback period to about eight months from 17 months.
- •The Odienné project covers 2,346 square kilometres across seven permits, with one joint-venture site containing more than 1.71 million ounces of gold.
Stormlands Mining, an Ireland-based data analytics company, has published a new independent case study on the Odienné gold project in northwestern Côte d’Ivoire, which is owned by Awalé Resources.
Odienné does not currently have a formal preliminary economic assessment (PEA). In its place, Stormlands said its artificial intelligence (AI) system built a base economic model using information extracted from Awalé’s NI 43-101 technical report dated April 2026. NI 43-101 is the Canadian disclosure framework used for technical reporting on mineral projects, while a PEA is typically an early-stage economic study rather than a feasibility study. The modelling program then produced results that raised the project’s net present value (NPV) from $891.8 million in the base model, using a 5% discount rate, to $2.25 billion. That represents a 153% increase.
Based on an updated gold price of $4,877.4 per ounce, Stormlands increased modelled life-of-mine revenue from $4.38 billion to $6.88 billion. Life-of-mine EBITDA rose from $2.01 billion to $4.32 billion. The model also lifted the project’s internal rate of return (IRR) from 69.42% to 152.25%, while the modelled payback period decreased from 17 months to about eight months. Modelled government royalties and corporate income tax increased from $760.9 million to $1.53 billion. Because NPV, IRR and payback calculations are highly dependent on assumptions such as commodity prices, costs, recoveries and discount rates, the figures represent Stormlands’ case-study modelling rather than a company-issued economic assessment.
The Odienné gold project spans 2,346 sq. km across seven exploration permits. One site contains 32.4 million tonnes grading 1.64 grams gold-equivalent per tonne, for a total of more than 1.71 million oz of contained gold. That site is held in a joint venture with a subsidiary of Newmont (TSX: NGT; NYSE: NEM ).
Stormlands chief executive Róisín O’Connell said existing mining valuation programs are falling short, not because of a lack of data, but because of how the data is applied.
“AI should not merely summarize technical reports. It should extract, structure and standarize the data so investors and project teams can test the same asset on a consistent basis,” she said.
The Odienné study forms part of the Stormlands library series, which aims to build resources that help mining companies predict and assess economic conditions. Other studies in the series have re-examined the Whistler, MPD and Barlorne projects.