Lycopodium wins Africa contract
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Perth-based Lycopodium has secured further work on Burkina Faso’s largest undeveloped gold deposit under an engineering, procurement and construction management (EPCM) contract.
The Bomboré deposit is 90 per cent-owned by Canadian company Orezone Gold Corporation and 10 per cent-owned by the Burkina Faso government.
Orezone says Bomboré is a low-cost and high-margin project, expected to produce 117,760 ounces of gold over a 13-year mine life. It has reserves of 70.1 million tonnes with a grading of 0.81 grams per tonne of gold for 1.8 million ounces.
Lycopodium, which previously supported the project’s initial study work and front-end engineering design from its Toronto office, will now undertake the detailed EPCM services for the design and construction of the oxide plant.
The plant will have a capacity of 5.2 million tonnes per annum.
Managing director Peter De Leo said Lycopodium was pleased to continue supporting Orezone.
“With vast experience in successfully designing and constructing gold projects in Africa, we will draw on our specialist expertise in Australia, Canada and Burkina Faso to deliver this significant project,” he said.
Lycopodium will begin work on January 11. Its shares were up 0.2 per cent at 12:07pm AEDT to trade at $4.72.