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Location: Dubreuilville, Ontario
Commodity: Gold
Project Phases: Construction Execution
Argonaut Gold Inc., a prominent Canadian gold mining company with operations in Mexico and Nevada, USA, initiated the Magino project in Northern Ontario. This initiative is aimed at transforming the company’s production and cost profiles through sustainable growth.
TMG was brought on board by Argonaut Gold’s Board of Directors to carry out an independent review of the ongoing self-executed infrastructure construction following a significant increase in the estimated construction capital upon completion, which soared by approximately $290 million. The areas requiring additional funds included the Tailings Management Facility, Site Development, Permanent Power, Owner General & Administration, and Project Indirects.
TMG’s thorough analysis and report played a pivotal role in revising the project’s escalation and contingency estimates. By identifying key areas of concern and augmenting the construction oversight and project controls teams, TMG contributed significantly to the project’s long-term success and stability:
The Magino project demonstrates Argonaut Gold Inc.’s commitment to expanding its operational footprint and enhancing its production capabilities through strategic initiatives. TMG’s expert review and ongoing support underscore the importance of robust project management practices in overcoming challenges and achieving project milestones. This case study highlights TMG’s role in enabling Argonaut Gold to navigate complexities and drive forward with its ambitious growth objectives.
TMG specializes in executive and operational consulting for the mining and oil and gas sectors. It offers tailored oversight and strategic guidance across all project stages to ensure optimal outcomes from conception to execution.
We acknowledge that our Corporate Head office is on the traditional territory of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee, and the Wendat peoples. It is now home to many diverse First Nations, Inuit, and Métis peoples. It is covered by Treaty 13, signed with the Mississaugas of the Credit and the Williams Treaties, marked with multiple Mississaugas and Chippewa bands. We also acknowledge that our Vancouver office is situated on the unceded traditional territories of the Musqueam, Squamish, and Tsleil-Waututh Nations.
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