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Orezone Gold Selects Lycopodium as EPCM Contractor and Provides Bomboré Project Development Update
VANCOUVER, British Columbia, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is pleased to announce that it has taken sever
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is pleased to announce that it has taken several key steps in advancing its 90% owned Bomboré Gold Project towards project construction. Highlights include: EPCM Award: The Company has awarded the engineering, procurement, and construction management (“EPCM”) contract to Lycopodium Minerals Pty Ltd. (“Lycopodium”), a company with an excellent track record of delivering projects on time and on budget in West Africa. First gold is scheduled for early Q3-2022. Phase I Resettlement Action Plan (“RAP”): All villages and infrastructure have now been completed. Relocation of households is proceeding smoothly with relocation substantially complete. This opens access to all areas required for the preparation of the process plant, surface infrastructure, and key mining areas including the Off-Channel Reservoir and tailings storage facility. For pictures of the Phase I RAP, please visit Orezone’s photo gallery link. Mining Contract: The Company has undertaken a competitive tender process including bidder site visits and a detailed assessment of proposals received. The Company plans to award the open pit mining contract in early 2021 to allow for contractor mobilization, site establishment, and commencement of pre-production mining by the end of Q1-2021. Power Plant: Bids for the Build-Own-Operate power plant have recently been received from companies specializing in providing power solutions in West Africa. The Company expects to award this contract in Q1-2021. Project Financing: Negotiations for conventional project debt covering a major portion of the project construction budget are advancing rapidly and smoothly. Site visits have been completed and a non-binding term sheet was signed in December. The Company expects an announcement of binding debt commitments later this month. Patrick Downey, President and CEO, stated, “Awarding the EPCM contract to Lycopodium is a key step to ensure the continued successful development and construction of the Bomboré project. With more than 12 mines built in West Africa, Lycopodium’s track record of building efficient mines on time and on budget is unparalleled. Lycopodium is very familiar with Bomboré, having performed the 2018 Feasibility Study, the 2019 Updated Feasibility Study, a...