Lycopodium confirms A$26m Endeavour work

ASX-listed Lycopodium has confirmed it has won a circa-A$26 million contract to deliver Endeavour Gold Corporation’s 1.2 million tonnes per annum biological oxidation (BIOX) plant for the Sabodala-Massawa gold expansion project in Senegal.

Endeavour said earlier it awarded Lycopodium the engineering, procurement and construction management (EPCM) contract for the US$290m BIOX project in the first half of this year.

Endeavour closed its US$2 billion acquisition of Teranga Gold, which consolidated the Sabodala-Massawa asset base, in early 2021.

Construction of the BIOX plant started in the June quarter this year and first gold from the facility is scheduled for early 2024. Endeavour says incremental annual BIOX plant production of 194,000oz at AISC of US$531/oz over the first five years “lifts [the] Sabodala-Massawa complex to top tier status”. It has guided for 2022 production of up to 375,000oz at US$675-725/oz AISC from Sabodala-Massawa.

The Sabodala operation has produced more than 2Moz of gold in the past decade.

The new BIOX plant will supplement output from the site’s 4.2Mtpa carbon-in-leach plant with processing of refractory ores from the Massawa deposits.

 

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