Dual-listed SolGold has delayed the delivery of the prefeasibility study (PFS) for the Alpala project in the Cascabel concession in Ecuador, citing restrictions related to Covid-19 and the changes to the infrastructure, mine design and production schedules.
The PFS was initially planned for delivery at the end of the third quarter, but limited physical access to site and limited staff at laboratories in Chile have delayed work on the study.
Also, the company said that an assessment of new geotechnical information had necessitated a redesign of certain underground infrastructure to a location outside of the cave footprint, changes to the mine design and development, and mining production schedules.
SolGold reported that this work was nearing completion with preliminary financial modelling expected to be undertaken this month.
In parallel, the project team is considering optimisation work.
SolGold said that the recently formed Alpala project committee, chaired by nonexecutive director Keith Marshall, was reviewing the PFS work input components and the report drafting progress.
The Alpala project committee review would be completed by the end of January, followed by a recommendation to the board. The market would be updated on the PFS shortly thereafter, the LSE- and TSX-listed company said.