Upcoming Gold Projects

Not a lot of discussion around here but I thought I’d share a couple of bits from recent gold company announcements.

Firstly SBM announced their intention to proceed to a Feasibility Study for their Simberi Mine in PNG. Lycopodium was mentioned on the conference call as providing the pricing for the Updated PFS, so you’d think will be in the box seat for the feasibility study and the plant build in ~12 months. Total project capex is US$150M.

The bigger project on the horizon is CDV’s Namdini in Ghana. Today’s CDV quarterly mentions negotiations with Lycoodium are well advanced on an EPCM arrangement. Namdini doesn’t have finance but CDV is subject of an informal takeover offer from Nordgold. I think there is a strong possibility Namdini goes into construction in the next 9 months in this gold environment. If Nordgold takes over CDV I think Lycopodium would be in the box seat too as they built at least one of Nordgold’s other plants in West Africa. Namdini is US$400M capex and a 9.5Mtpa plant. Would be among LYL’s biggest builds to date.

Then PRU’s Yaoure is currently under construction and on track. WAF’s Sanbrado came in on time and under budget and process plant seemingly working well so far.

Seems there is a pretty decent pipeline of projects coming and Lycopodium are very well positioned to win their share. I bought about as many LYL shares as I could at these levels and below in March/April.