West African Resources Awards Underground Mining Contract for M1 South to Byrnecut
SUBIACO, AUSTRALIA / ACCESSWIRE /November 27, 2018 / Golddeveloper West African Resources Ltd. (ASX, TSXV: WAF) is pleased toannounce it has awarded the underground mining contract for the Sanbrado GoldProject (Sanbrado), to highly experienced mining services contractor ByrnecutBurkina Faso SARL (Byrnecut), part of the Byrnecut group of companies.
Highlights
- Underground mining contract for M1 South awarded to Byrnecut
- Contract amount to be US$110M over five years
- West African and Byrnecut to enter into a deferred payment plan of up to US$10m
- Mobilisation activities to commence in December 2019
- Portal establishment expected to commence March 2019
- Debt funding package to develop Sanbrado to be finalised by end of Q4 2018
West African Managing Director Richard Hyde commented:
"The underground mining contract is a key operational contract for Sanbrado andits award follows the completion of a competitive tender process and extensivedue diligence process examining safety, experience and capabilities.
"We are very pleased to award the underground mining contract to Byrnecut whohave a long history providing underground mining services globally and havecurrent operating experience in West Africa."
Byrnecut Group Executive Chairman Steve Coughlan said:
"We are looking forward to partnering with West African on the excitingSanbrado Gold Project. This project will be our second site in Burkina Faso andfifth project we have operated in the West African region.
"Byrnecut will bring more than 30 years of operational experience to Sanbradoand look forward to ensuring West African's targets are met, while providing asafe operating environment for both client and contractor."
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SOURCE: West African Resources Ltd.