Lycopodium moves from DFS to engineering at Perseus’ Yaoure gold project

Lycopodium has received a notice of award for the engineering and supply of the Yaouré gold project in Côte d’Ivoire from ASX-listed Perseus Mining.

The award, subject to finalisation of the formal contract documentation, full project funding and receipt by Perseus of its exploitation permit, is expected to result in revenue of $95.1 million. This amount is expected to be reported across the final part of the current Australia financial year, FY 2020 and the first half of FY 2021.

“This award sees the continuation of our association with Perseus, following the successful delivery of the Sissingué gold project (Côte d’Ivoire) and completion of the feasibility study and front end engineering and design for Yaouré,” the company said.

Yaouré comes with a JORC-compliant reserve of 26.8 Mt at 1.76 g/t Au containing 1.52 Moz of gold and a plan to produce 215,000 oz/y of gold for the first five years of operations at all-in site costs of $734/oz.