Fortuna Silver Mines Announced Updates on Seguela Gold Project

SEATTLE (Scrap Monster):  Fortuna Silver Mines Inc. provided an update on construction activities at its Seguela gold project located at the West African country of Côte d'Ivoire. The company had announced construction of 3,750 tonnes per day open pit mine in September last year. The first gold pour from the mine is expected by mid-2023.

According to the company press release, the overall project is 32% complete as at end-January this year. It has accrued nearly $48.9 million of the $173.5 million initial capital budget as on 31^st December, 2021. The company has secured major equipment packages and has executed major construction contracts. Furthermore, it has completed tender process and selection of the preferred mining contractor.

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The accommodation camp is complete and ready for occupancy. The camp is almost two kilometres away from the processing plant area. The contract negotiations with a preferred mining bidder are in progress, with contract execution expected by March 2022.

Commenting on the progress, Paul Criddle, Chief Operating Officer- West Africa, Fortuna Silver Mines said that the project is advancing on schedule. It is successfully transitioning from detailed engineering design to construction and remains on budget and on schedule to pour gold by mid-2023.