Compass Gold Signs MOU for Construction of Gravity Concentration Plant at Mali

07:13 AM EDT, 10/27/2026 (MT Newswires) -- Compass Gold (CVB.V) entered into a non-binding memorandum of understanding (MOU) with Mali-based INDUSTRIE MALIENNE POUR L'AGRICULTURE (IMAGRI) to advance the construction of a modular gravity concentration plant, it said in a statement on Tuesday. The plant is supposed to be capable of producing a saleable gold concentrate by processing material from the company's 100%-owned Massala Small Mine project located in southern Mali, it said. IMAGRI will supply and deploy the principal gravity processing plant and provide related installation, commissioning, maintenance and support services, it added. The company said IMAGRI has also proposed providing mining services for the project. The proposed facility is envisioned to process about 1,000 tonnes per day of mineralized material, subject to ongoing engineering and technical studies, it said. Both parties intend to negotiate a definitive agreement, covering scope of work, construction schedule, capital needs, operating responsibilities and other commercial terms by year end 2026. The company's shares last traded Oct. 22, closing at CA$0.15 on the TSX Venture Exchange.