MACA Limited is anticipated to deliver works at the Yandal Gold Project located approximately 83 kilometres northeast of Leinster in Western Australia, with the company signing a letter of intent with Echo Resources for two work contracts following a competitive tender process.
MACA Mining is set to be awarded the Open Pit Mining Services Contract while MACA Interquip is going to be awarded the Mill Refurbishment Contract. The final value of the contracts have not yet been disclosed as it will depend on the completion of the updated Bankable Feasibility Study (BFS) on the project.
“We are very pleased to be partnering with MACA. By involving MACA at this early stage and engaging with them constructively, we are confident of achieving efficiencies and synergies which will enhance the economics of the optimised BFS,” Echo Resources Chief Executive Officer Victor Rajasooriar said.
The scope of works under the open pit mining contract will include drill and blast as well as load and haul service. On the other hand, the mill contract will include the refurbishment and commissioning of the milling facility.
The ore from the Yandal Gold Project is going to be processed through the Bronzewing Processing Plant.
In addition to the letter of intent, MACA has also signed an agreement to subscribe for $1.5 million of the shares in Echo Resources - at $0.11 per share.
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