Roscan Gold

What Roscan Gold does

Roscan Gold Corporation is a Canadian public gold exploration and development company (TSX-V: ROS; FSE: 2OJ; OTCQB: RCGCF) focused on advancing the 100%-owned Kandiolé Gold Project in West Mali's Birimian belt. The company was founded in 2015 (predecessor Roscan Minerals Corporation, renamed September 2018), is headquartered in Toronto, Ontario, and operates through wholly-owned subsidiaries including Roscan Resources Corporation, Komet Mali SARL, and Touba Mining SARL. Its core asset is a contiguous land package covering five major trends of gold mineralization, explored via termite-mound and soil geochemistry, Air Core, and Diamond/RC drilling under the technical leadership of CEO Nana Sangmuah, VP Exploration Pascal van Osta, and Strategic Advisor/QP Gregory Isenor.

The technology and economic engine of the company is the Kandiolé Project, currently anchored by an updated Mineral Resource Estimate effective February 19, 2026 (58.2 Mt at 0.68 g/t Au Indicated for 1.283 Moz; 5.6 Mt at 0.52 g/t Inferred for 0.09 Moz) and a Preliminary Economic Assessment effective February 27, 2026. The PEA contemplates a conventional open-pit truck-and-shovel contractor operation feeding a centralized 2.5 Mtpa carbon-in-leach (CIL) processing facility with gravity recovery, supported by hybrid diesel/solar power, with modeled metallurgical recoveries averaging ~94% (oxide ~96%, fresh rock ~90%). Project economics are US$498M after-tax NPV5% and 43% IRR at a US$3,100/oz base case, scaling to US$1.29B NPV5% and 85% IRR at US$5,280/oz spot, with US$218.7M initial capex, US$297.2M total capex, 13-year LOM, 834,858 oz recovered, and AISC averaging US$1,568/oz LOM.

Roscan is pre-revenue and funds operations through a mix of private placements, convertible notes, and a Royalty Sale Agreement with Osisko Gold Royalties (up to C$10M); its primary 'customers' are capital providers, including Asante Gold Corporation (C$6.4M strategic investment), Michael Gentile, CFA (>5% holder), and broker syndicates led by Clarus Securities. Future revenue will be generated from gold doré/concentrate sales post-construction at Kandiolé, with optionality for toll-milling at four nearby regional mills within 50 km (B2Gold Fekola, Barrick, Endeavour, IAMGOLD), subject to a Malian sliding-scale state royalty, a 1% NSR royalty, and a 33% corporate income tax regime.

Name

Roscan Gold

Legal name

Roscan Gold Corporation

Website

https://roscan.ca

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Canadian gold exploration and development company advancing the 100%-owned Kandiolé Gold Project in West Mali's Birimian belt from exploration to developer stage, with a March 2026 PEA and an Indicated-dominant 1.28 Moz Au resource.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Gold Ore and Silver Ore Mining (212220), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Gold exploration
• Mineral exploration
• Gold mining development
• Mineral resource estimation
• Gold property acquisition

Headquarters

HQ city

Bedford

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Pre-production; future gold concentrate/bullion sales modeled in PEA: Currently pre-revenue (gold exploration and developer). Future revenue, once Kandiolé is in production, is modeled as life-of-mine gold sales of ~834,858 oz over a 13-year LOM at AISC averaging US$1,568/oz (Years 1–4: US$1,200/oz) under a Base Case US$3,100/oz gold price, with after-tax NPV5% of US$498M and IRR of 43% (rising to US$1.29B / 85% at spot US$5,280/oz). Subject to Malian sliding-scale state royalty, 1% NSR royalty and 33% corporate income tax.
2. Royalty / Streaming Capital (Osisko Gold Royalties): In December 2022, Roscan entered into a Royalty Sale Agreement with Osisko Gold Royalties for proceeds of up to C$10 million, providing non-dilutive capital and a royalty revenue consideration on the Kandiolé Project.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Roscan Gold Corporation is a Canadian gold exploration and development company focused on the acquisition, exploration, and advancement of gold properties in West Africa. Its flagship asset is the 100%-owned Kandiolé Gold Project in West Mali, comprising multiple deposits (Mankouke South, Mankouke Central, Kabaya, KN1) in the Birimian gold belt. The company is transitioning from explorer to developer following a positive 2026 Preliminary Economic Assessment that supports a future conventional open-pit gold mining operation producing approximately 835,000 ounces of gold over a 13-year mine life.

Product overview

Roscan Gold Corporation's offering is a single integrated mining exploration and development platform centered on the Kandiolé Gold Project in West Mali, rather than a multi-product software platform. The Kandiolé Gold Project is the core asset and comprises the Mineral Resource Estimate (MRE) and the Preliminary Economic Assessment (PEA) — both technical deliverables prepared in accordance with NI 43-101 — together with the 2020 Technical Report by ACA Howe International Limited. The PEA underpins the company's transition from exploration to developer and incorporates the MRE results, while the historical 2020 Technical Report documented the project's earlier exploration stage. Roscan also pursues complementary capital-markets and strategic transactions (private placements, convertible notes, royalty sale with Osisko Gold Royalties) that fund the advancement of the Kandiolé Gold Project.

Differentiator

Problem solved

Functional benefit

Products and services

• Kandiolé Gold Project Flagship 100%-owned gold exploration and development project located in West Mali, covering a significant land position in Birimian rocks with multiple deposits including Mankouke South, Mankouke Central, Kabaya and KN1. The project is the subject of a 2026 Preliminary Economic Assessment indicating a 13-year mine life, ~835,000 oz of recovered gold, after-tax NPV5% of US$498M (base case) to US$1.29B (spot price), and IRR of 43% to 85%.
• Kandiolé Mineral Resource Estimate (MRE) Updated Mineral Resource Estimate for the Kandiolé Project prepared by Bara Consulting (UK) Limited in accordance with CIM Definition Standards (2014). Reports Indicated Resources of 58.2 Mt at 0.68 g/t Au for 1.283 Moz and Inferred Resources of 5.6 Mt at 0.52 g/t Au for 0.09 Moz.
• Kandiolé Preliminary Economic Assessment (PEA) Preliminary Economic Assessment for the Kandiolé Gold Project prepared by Bara Consulting (UK) Limited with an effective date of February 27, 2026. Evaluates a conventional open-pit truck-and-shovel operation supplying approximately 2.5 Mtpa to a centralized CIL processing facility over an approximately 13-year life of mine, with a 3.8:1 strip ratio and average processed grade of 0.89 g/t Au.
• Kandiolé Project Technical Report (2020) Technical Report on the Kandiolé Gold Project in Southwest Mali, dated November 6, 2020 and effective as of July 5, 2020, prepared by ACA Howe International Limited in accordance with National Instrument 43-101.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

15 partnerships are on record, tiered core, minor and flagship.

• African Geos Ltd (Mark Kenwright, FAusIMM CP(Geo))coreImplementation/ SI/ Consulting Partner · 16 April 2026Qualified Person Mr. Mark Kenwright, FAusIMM CP(Geo) of African Geos Ltd reviewed and approved the Mineral Resource Estimate and PEA results disclosed in the March 2, 2026 news release and the April 16, 2026 Technical Report filing.
• AfroBullion Mine LimitedminorChannel Partner/ Reseller/ Distributor · 2 March 2026Received a 5% finder's fee on the gross proceeds of Roscan's CAD$1,500,000 secured subordinate promissory note offering closed March 2, 2026. Acts as finder on Roscan's non-brokered convertible note financings.
• Bara Consulting (UK) LimitedflagshipImplementation/ SI/ Consulting Partner · 2 March 2026Independent consulting firm that completed the updated Mineral Resource Estimate (effective Feb 19, 2026) and the Preliminary Economic Assessment (effective Feb 27, 2026) for the Kandiolé Gold Project in compliance with NI 43-101. Core technical execution partner for the flagship PEA and supporting Technical Report.
• Srinivasan Venkatakrishnan ("Venkat")coreStrategic or Co-development Partner · 8 February 2021Former CEO of AngloGold Ashanti; appointed to Roscan Gold's Board of Directors on February 8, 2021. Provides strategic and technical guidance at the board level.
• ACA Howe International LimitedcoreImplementation/ SI/ Consulting Partner · 6 November 2020Prepared the Technical Report on the Kandiolé Gold Project in Southwest Mali, dated November 6, 2020 and effective July 5, 2020. Historical NI 43-101 technical report author.
• Clarus Securities Inc.flagshipChannel Partner/ Reseller/ Distributor · 18 November 2019Lead agent on multiple Roscan brokered/marketed offerings, including the November 2019 C$3.5M–C$4.0M (upsized) marketed offering with Canaccord Genuity, Cormark, M Partners and Eight Capital; led the March 2019 C$3.8M brokered offering (C$3,272,000 brokered + C$528,000 non-brokered). Also provides analyst coverage (Varun Arora, Research Associate – Metals & Mining).
• Skanderbeg Capital Advisors Inc.coreGTM or Marketing Partner · 4 June 2019Investor relations consulting agreement effective June 1, 2019 (initial 12-month term at $7,500/month plus 600,000 stock options at $0.15/share). Designs and runs Roscan's expanded market-awareness and communications campaign, including agreements with Wealthy Lion, GoldstockTrades.com, OGIB Corporate Bulletin, Caesar Holdings and MIDAM Ventures LLC.
• Sir Samuel E. Jonah (Non-Executive Chairman)flagshipStrategic or Co-development Partner · 13 January 2019Former CEO of AngloGold Ashanti; appointed Non-Executive Chairman of Roscan Gold Corporation on January 13, 2020 (publicly disclosed as a board appointment of strategic significance); granted 3,500,000 stock options at $0.12/share. Provides strategic guidance based on prior successes (Equinox Minerals, Moto Gold).
• Touba Mining SARLflagshipImplementation/ SI/ Consulting PartnerLocal exploration partner in Mali that supports Roscan's Kandiolé Project field operations, including drilling, termite/soil sampling and community engagement as part of Roscan's highly successful exploration team led by Nana Sangmuah, Greg Isenor and Pascal van Osta.
• Stifel Nicolaus Canada Inc. (Alex Terentiew)minorGTM or Marketing PartnerSell-side analyst coverage of Roscan Gold Corporation by research analyst Alex Terentiew. Provides research visibility into institutional investor channels.
• Echelon Capital Markets (Ryan Walker, MSc)minorGTM or Marketing PartnerSell-side analyst coverage of Roscan Gold Corporation by analyst Ryan Walker, MSc. Provides research visibility into institutional investor channels.
• Beacon Securities Limited (Bereket A. Berhe)minorGTM or Marketing PartnerSell-side analyst coverage of Roscan Gold Corporation by Director, Mining Analyst Bereket A. Berhe. Provides research visibility into institutional investor channels.
• B2Gold Corp. (Fekola Mine - neighboring operator)coreStrategic or Co-development PartnerB2Gold's Fekola Mine lies on a contiguous property to the west of Roscan's Kandiolé Project, with major gold deposits located both north and south. Frequently referenced as a strategic neighbor and infrastructure peer (one of four existing mills within 50 km trucking distance).
• TSX Trust CompanyminorOthersRegistrar and transfer agent for Roscan Gold Corporation at 301-100 Adelaide St. West, Toronto ON M5H 4H1. Provides investor services for shareholders.
• RSM Canada LLPminorOthersIndependent auditor for Roscan Gold Corporation based at 11 King Street West #700, Toronto, ON M5H 4C7.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Asante Gold Corporation: Strategic shareholder (C$6.4M investment) and West African-focused gold producer/developer with assets in Ghana and Mali. Directly comparable as a West African gold developer with overlapping geography and similar Birimian-belt targeting.
• B2Gold Corp. Operator of the Fekola Mine, which sits on a contiguous property immediately west of Roscan's Kandiolé Project in West Mali. Most directly comparable West African gold producer; serves as a reference asset for Roscan's infrastructure proximity thesis.
• Radisson Mining Resources Inc. Canadian exploration-stage gold company with West African assets; comparable pre-revenue developer, and Radisson's former CEO (Rahul Paul) is now Roscan's CFO, indicating close industry/management overlap.
• Cardinal Resources Limited: West African gold developer (Namdini project in Ghana) that was a comparable West African developer highlighted by Roscan's CEO during his Clarus tenure; similar project-stage and Birimian-style geological setting.

Regional players

• IAMGOLD Corporation: Major West African gold miner with operations near Roscan's Kandiolé Project. Comparable as a peer whose former Exploration Manager (John Learn) helped train the Roscan exploration team.
• Endeavour Mining plc: West African gold producer with multiple operating mines in Mali and the broader Birimian belt; comparable operating-model reference within 50 km of Roscan's permits. Larger-scale diversified operator vs. Roscan's single-asset focus.
• SEMAFO Inc. West African gold producer (now part of Endeavour Mining) historically referenced by Roscan's CEO as a comparable Birimian-belt growth story during his Clarus Securities research tenure.
• Perseus Mining Limited: West African gold producer with operating mines in Côte d'Ivoire and Ghana; comparable as a mid-tier Birimian-belt operator referenced by Roscan's CEO from his prior Clarus Securities research coverage.

Broad incumbents

• Osisko Gold Royalties Ltd: Royalty/streaming company that holds a 1% NSR on Roscan's Kandiolé Project and provided up to C$10M in non-dilutive capital. Comparable as a counterparty in West African gold royalty/streaming transactions.
• Barrick Gold Corporation: Global gold major with significant West African footprint (Loulo-Gounkoto complex in Mali). Comparable as a large incumbent operating within trucking distance of Roscan's permits.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/GoldRoscan

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds10 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Roscan Gold