1. PROJECT FEASIBILITY STUDY
a. The Pre-Feasibility Study was completed by Wardell in 2017 to assess the feasibility of investing in additional studies to further develop the project, as well as to determine a high level review based on the available information.
b. The Feasibility Study (Bank Feasibility Study) was completed by SRK in 2022 in order to determine the detailed performance indicators of the project in order to attract funding for the project.
2. BASIC AND DETAILED ENGINEERING
1. Pit development project. In 2022, the plan of mining operations and development of a quarry for open-pit mining of ore was adjusted.
2. Production procedures In 2019, the TOMS company (Irkutsk city) developed the Technological Regulations for the processing of ore from the "Yubileynoye" deposit based on the conducted ore studies.
3. Basic design of the GPP (gold processing plant). In 2022, on the basis of the Technological Regulations, work began on the development of design and estimate documentation for the "Project" stage for the construction of a gold processing plant (GPP) with a capacity of 5 million tons of ore per year. Completion of the works is planned by the end of 2023.
4. Working draft of internal infrastructure. In 2021-2022, a working design for the construction of MMC internal infrastructure facilities was developed. In 2023, it is planned to pass all the necessary approvals and state expertise of the working draft.
5. Working draft of water supply. In 2021-2022, a working draft was developed for the construction of a 22 km long water conduit from the Aulie reservoir for process water supply to the mining and metallurgical combine. In 2023, it is planned to pass all the necessary approvals and state expertise of the working draft.
6. Working draft of power supply. In 2022, the technical conditions for the power supply of the MMC were obtained. In 2023, it is planned to obtain approval from the power supply operator KEGOC and develop a detailed design for the construction of a 140 km overhead line-110kV and a 110/10kV substation "Yubileinaya Novaya".
7. Detailed engineering of the GPP. In 2024, after the state expertise of the basic project for the construction of the GPP, it is planned to develop working documentation.
3. PROCUREMENT OF EQUIPMENT AND CONSTRUCTION
a. Pit operation. Exploration, stripping works and pit arrangement are planned to be completed in 2025.
b. GPP construction. The purchase of equipment and materials, the construction of the GPP and the tailings are planned to be carried out from 2024 to 2026.
c. Construction of MMC internal infrastructure facilities. The purchase of equipment and materials, the construction of MMC internal infrastructure facilities are planned to be carried out from 2024 to 2025.
d. Construction of external infrastructure facility The purchase of equipment and materials, the construction of external infrastructure facilities for power supply and water supply of the MMC is planned to be carried out from 2024 to 2026
4. STARTING UP AND COMMISSIONING
a. The commissioning of internal and external infrastructure facilities is planned for the first half of 2026.
b. Commissioning of the GPP and tailings is planned for the second half of 2026.