Name of the Project
Séguéla gold project.

Location
Worodougou region of the Woroba District, Côte d’Ivoire.

Project Owner/s
Fortuna Silver Mines.

Project Description
Séguéla has total mineral reserves of 12.06-million tonnes.

The project has a mine life of 8.6 years, during which it is expected to produce 1.03-million ounces of gold, with average gold production estimated at 120 000 oz/y.

The project involves the development of an openpit mining operation, targeting a series of openpit mines at the Antenna, Koula, Ancien, Agouti and Boulder deposits that will feed a central gold processing facility.

Conventional openpit mining methods will be used at Séguéla.

Drilling and blasting are planned for oxide and fresh mineralised material, followed by conventional truck-and-shovel operations in the pits for the movement of mineralised material and waste.

The processing plant will have a capacity of 1.25-million tonnes a year, increasing to 1.57-million tonnes a year in Year 3 through a series of optimisation and debottlenecking measures.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate and gold price of $1 600/oz, of $380-million and an internal rate of return of 49%, with a payback of 1.7 years.

Capital Expenditure
$173.5-million.

Planned Start/End Date
The project is expected to take 20 months to complete, with first gold expected by mid-2023.

Latest Developments
The construction of the Séguéla project is on time and within budget, despite a particularly heavy wet season, Fortuna Silver Mines COO for West Africa David Whittle has said.

The project is about 83% complete and the first gold pour remains on target for mid-2023.

Fortuna has said that deliveries continue to arrive in Abidjan, with all semiautogenous grinding (SAG) mill components now shipped. The last SAG mill package will arrive in early December.

Construction of the 90 kV transmission line and substation is nearing completion and is on track to be energised in December.

The company further reports that about 565 000 m³ of water has collected in the water storage dam, which is in line with expectations and the requirements for commissioning and startup activities.

Earthworks and high-density polyethylene lining of the tailings storage facility are on track for completion before the end of 2022.

The mining contractor has mobilised to site and has started establishment activities.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Fortuna Silver Mines, email info@fortunasilver.com.