Processing plant
Lycopodium has progressed in advancing success on the critical path for the plant. At the end of October, key structural activities include:
The delivery and installation of the SAG mill continues on the critical path of assignment and despite demanding situations and global supply chain hazards, all parts have been shipped and are expected to be delivered to the site before the end of the year.
Bulk earthworks of the site.
The structure of CRS and ESD is well advanced. The construction of the WSD is nearing completion and has already captured approximately 565,000 m3 of unfired water by the end of October for commissioning and transition to operation. which is expected to be complete this quarter. Forty-eight % of the total area of the ISR domain covered with HDPE coating. Now that the rainy season is over, the siding contractor is remobilizing at the site to complete the ISR coating.
Connecting to the network
By the end of October, the HV substation structure was approximately 97% complete. Work is underway to force the substation in December 2022 ahead of commissioning activities at the treatment plant.
General view of the HV substation paints
Mining
Mota-Engil, the mining contractor in Séguéla, is well engaged with his recruitment activities for the task and mobilized his team on site. All the long-lead equipment was purchased and began arriving in the country in October.
Operational readiness
Preparations for the operational phase of the mine are progressing well. Currently, Mota-Engil is carrying out civil works related to the status quo of its infrastructure, adding workshops, offices and an explosives storage area. Construction of the ROM rig and entry-grade drilling is expected to begin in the existing quarter.
The first delivery of mining equipment was won in Côte d’Ivoire and additional deliveries of the mining fleet are expected in the quarter.
Recruitment activities for the mine’s operational team are complex with the appointment of the General Manager of Operations and other senior control positions. Recruitment continues for the rest of the operational team.
Cost
As of October 31, 2022, $166. 0 million of the approved overall budget of $173. 5 million had been committed, plus $8. 9 million for contingencies. Total commitments to date include contracts for a maximum guaranteed value of $87 million, fixed value contracts for $15. 4 million, and a $13. 7 million earthmoving scale and amount invoice. The remaining commitments are largely made up of workers’ wages, requests for appliances and materials, land compensation, and livelihood recovery programs.
Project commitments as of October 31, 2022:
Program
Construction in Séguéla is as planned with the next main steps of the task below:
More updates on the structure of Séguéla’s gold allocation will be as the allocation develops. The photo gallery of Séguéla’s structure is available here.
Qualified person
Raul Espinoza, the company’s Director of Technical Services, is an associate member and qualified professional of the Australasian Institute of Mining and Metallurgy (FAusIMM CP) and a qualified user as explained through National Instrument 43-101, Disclosure Standards for Minerales. Sr Projects. . Espinoza has reviewed and approved clinical and technical data similar to Séguéla’s gold allocation contained in this press and verified the underlying data.
About Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc. es a Canadian valuable metals mining company with 4 operating mines in Argentina, Burkina Faso, Mexico and Peru, and a 5th mine under structure in Côte d’Ivoire. Sustainability is an integral component of all our operations and relationships. We produce gold and silver and generate long-term price sharing for our stakeholders through effective production, environmental coverage and social responsibility. For more information, please visit our website.
ON BEHALF OF THE COUNCIL
Jorge A. Ganoza President, Chief Executive Officer and DirectorFortuna Silver Mines Inc.
Investor Relations: Carlos Baca | info@fortunasilver. com | Twitter: @Fortuna_Silver | LinkedIn: Fortunasilvermines
Forward-Looking Statements
This press release comprises forward-looking statements that constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Canadian Securities Litigation Reform Act. Private Securities 1995. (collectively, “Forward Looking Statements”). All statements contained in this document, other than forward-looking statements of fact, are forward-looking statements and are subject to a variety of known and unknown hazards and uncertainties that may also cause actual events or effects to differ materially from those reflected in forward-looking statements. statements. Forward-looking statements in this press release would possibly include, but are not limited to, statements regarding the Company’s plans to structure an open pit gold mine at the Séguéla Gold Project, including the timing of the structure, mine construction prices, obtaining the mandatory contracts for the structure of the mine, the delivery time of the apparatus to the project; the signing of the mining conference with the government of Côte d’Ivoire, the option to sign contracts for exceptional equipment and according to their estimates, the time of the first gold spill; the Company’s business strategy, plans and prospects; the merits of the Company’s mineral properties; mineral resource and reserve estimates; time limit; the long-term monetary or operational functionality of the Company; bills; approvals and other matters. Often, though not always, such forward-looking statements can be made known by the use of words such as “estimated”, “potential”, “open”, “long-term”, “alleged”, “projected”, “used”, “detailed “, “has been”, “gain”, “planned”, “reflecting”, “shall”, “containing”, “remaining”, “is”, or statements that cause “also just can” or “should” happen or be realized and analogous expressions, adding negative variations.
Forward-looking statements involve known and unknown dangers, uncertainties and other items that could possibly cause the Company’s actual effects, functionality or achievements to be materially different from any effects, functionality or achievements expressed or implied by the declarations. future. These uncertainties and items include, among others, adjustments in general economic and money market conditions; the duration and effects of the COVID-19 pandemic on our operations and the effects on the global economy and society; adjustments in the costs of silver, gold and other metals; adjustments in the costs of mandatory materials for the structure of the Séguéla Gold Project such as appliances and services; the ability to enter into the Mining Contract in the terms ultimately considered and appropriate to the Company; technological and operational hazards in the mining activities and progression of the Fortuna mine; dangers inherent in mining exploration; fluctuations in the costs of energy, labor, materials, materials and services; currency fluctuations; accumulating in inflation; uncertainties inherent in estimating mineral reserves, mineral resources and metal recovery; our ability to discharge all required permits, licenses and regulatory approvals in a timely manner; government and other approvals; political unrest or instskill in the countries where Fortuna operates; hard work relationship problems; as well as the points discussed in the “Risk Factors” section of the Company’s Annual Information Form. While the Company has attempted to identify vital points that may also cause actual actions, events or effects to differ materially from those described in the forward-looking statements, there may be other points that cause actual actions, events or effects to differ materially from those described in the forward-looking statements. forward-looking statements. the forecasted, estimated or predicted. Array
The forward-looking statements contained in this document are based on management’s assumptions, beliefs, expectations and opinions, including, but not limited to, that the structure of the Séguéla Gold Project will continue on schedule and in accordance with the planned budget; that COVID-19 and the existing inflationary environment will not adversely affect the loading of the structure of the Séguéla Gold Project mine and will not adversely affect the supply chain and delivery of fabrics and appliances for the structure; expected trends in mineral loads and exposure rates; that there will be no adverse weather conditions to delay assigned work; that the Company’s activities will be consistent with the Company’s public statements and stated purposes; that there will be no curtains of adverse repositioning of the Company or its properties; that all required approvals will be obtained; that there will be no curtain interruption operations, and the other assumptions established in this document. Forward-looking statements are made as of the date hereof, and the Company disclaims any legal responsibility to update any forward-looking statement, whether as a result of new information, events or long-term effects or otherwise, except as required by law. law. required. There can be no guarantee that forward-looking statements will prove to be accurate, as actual effects and long-term events may differ slightly from those expected from such statements. Accordingly, investors deserve not to place undue reliance on forward-looking statements.
© 2022 Benzinga. com. Benzinga provides investment advice. All rights reserved.