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Fortuna provides construction update at its Séguéla gold Project in Côte d´Ivoire
VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an update on construction
About this update from Fortuna Mining Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an update on construction activities at its Séguéla gold Project located in Côte d’Ivoire. In September of 2021, the Company made a construction decision to proceed to build a 3,750 tonne per day mill at Séguéla, with first gold pour expected in mid-2023 (refer to Fortuna news release dated September 29, 2021). All references to dollar amounts in this news release are expressed in US dollars. Paul Criddle, Chief Operating Officer - West Africa of Fortuna, commented, “The Séguéla Project continues to advance in line with our expectations through what is a challenging supply market.” Mr. Criddle continued, “Séguéla has transitioned through the design and procurement phases to now having much of the critical earthworks and civil works out of the ground ahead of the upcoming wet season, in line with budget and schedule.” Mr. Criddle concluded, “Activities at the project site are really ramping up ahead of planned gold pour in mid-2023.” Construction Highlights Overall project is 61 percent complete as of June 15, 2022 Approximately $91.6 million of the $173.5 million initial capital budget accrued as of May 31, 2022 Approximately $143.8 million committed as of May 31, 2022 Majority of equipment packages secured and first deliveries arriving in Abidjan, Côte d´Ivoire All major construction contracts executed and contractor mobilizations underway All key scopes now commenced and construction advancing on the ground Mining contract executed with Mota-Engil and long lead equipment ordered Key mechanical equipment has begun arriving at site First gold pour remains on target for mid-2023 Accommodation Camp The accommodation camp is complete and occupied by the project and company staff. Processing Plant De Simone was awarded the process plant bulk earthworks contract and activities are nearing completion. Ground improvement works are completed and only punch listed items are outstanding. All areas have been handed over to the engineering, procurement and construction (EPC) contractor for construction of the processing plant. Lycopodium, the process plant EPC contractor, mobilized to site in March 2022 and has made excellent progress in advancing the critical path scopes fo...