| January 2003 |
Discovery |
|
| October 2006 |
Feasibility Study |
| December 2006 |
Social and Environmental Impact Assessment |
|
| January 2007 |
Tendering process for EPCM contractor |
| June 2007 |
EPCM contractor selected (SENET), engineering commenced |
| October 2007 |
State participation agreed (10% free carried + 30% interest to be purchased at fair value by Eritrean National Mining Company |
| December 2007 |
Mining and stabilization agreements completed with Eritrean Government |
|
| January 2008 |
Mining license granted |
| February 2008 |
Orders placed for critical equipment |
| August 2008 |
SENET mobilized to site and site clearing and heavy earth moving started |
| September 2008 - present |
Active mine construction |
|
| July 2009 |
$235 Million Debt Financing |
| December 2009 |
Mills delivered |
|
| February 2010 |
Debt replaced by Equity |
|
Construction 50% complete |
| March 2010 |
Ball and Sag Mill assembled and set in place |
|
Pre-Strip mining commenced |
| April 2010 |
Installation of the liner in the Tailings Management Facility started |
| May 2010 |
Installation of Ball and SAG Mills |
| June 2010 |
Completion of structural steel and plate-work |
| October 2010 |
Plant Commissioning initiated, Power Plant commissioned |
| December 2011 |
First gold pour |
|
| February 2011 |
Commercial production achieved |
|
|