Ausenco Limited (ASX: AAX) today confirmed the Group has signed and commenced the Engineering, Procurement and Construction (EPC) contract for Atlantic Gold Corporation’s (TSX-V: AGB) Moose RivernConsolidated Gold Project (the Project) in Nova Scotia, Canada.
By the fourth quarter of 2017, Ausenco will deliver the Project’s 2 mtpa gold processing plant and various other related infrastructure for CAD 86.34 million (AUD 91 million) under a fixed price EPC contract.
Atlantic Gold is finalising its project financing including raising new equity and finalising the debt funding facilities for the Project. These milestones and finalising the contract terms will enable work to commence immediately.
Ausenco CEO Zimi Meka said despite volatile markets, interest in developing and financing gold projects was quite strong.
“We are pleased to have commenced work on this quality project and we look forward to working with Atlantic Gold Corporation over the next 17 months to deliver this Project