Lydian International Ltd T.LYD

Lydian's capital costs will increase 10-12%

[Ecolog67]

Management is in the process of preparing a definitive capital cost estimate. This is a customary review at this stage of the project with engineering largely complete, major equipment supply contracts in place, construction well advanced, and operational readiness activities underway. While refinements are ongoing, management anticipates pre-production capital costs will increase by approximately 10-12% above the current estimate of $383 million. The major components of this increase are the costs directly and indirectly related to geotechnical mitigation efforts, scope changes, and schedule extension.

Howard Stevenson, President and Chief Executive Officer of Lydian stated, “We are pleased with our overall progress to date, aside from the geotechnical challenges experienced last fall. While the capital cost estimate has increased, we have progressed to a point of having much greater certainty for our cost estimate to complete the project...”
https://www.lydianinternational.co.uk/news/2018-news/413-