It added that the tailings storage facility will be completed by the end of October, in advance of ore commissioning of the plant. The initial mining fleet has also been commissioned, and pre-stripping of the mine, as well as the construction of haul roads, are advanced, with first ore expected over the course of the next month.
However, Artemis also noted that the initial capital guidance to first gold pour has now been updated from C$730-C$750 million to C$780-C$800 million, for an increase of approximately 7%, due to additional overhead from construction delays.
According to the company, the Blackwater mine experienced two separate wildfire events during the past 17 months which halted construction at the site for a total of approximately one and a half months. Management also invested in certain schedule acceleration initiatives to offset the delays, which added to the cost of construction.
The company has completed the…
