Ausenco had been closely involved with the project from an early stage, having led all of the earlier prefeasibility and feasibility studies.

Ausenco, in conjunction with Duro Fulguera, also completed supplementary engineering work in 2015 to develop an engineering, procurement and construction-focused lump sum turnkey proposal for about 72% of the capital cost.

The project's proponents, RNC Minerals (TSX:RNC) and funds backed by private equity firm Waterton Global Resource Management, are maintaining the same project scope, flowsheet, and overall site layout from the feasibility study completed in July 2013, in order to leverage the investment in the prior work.

The updated feasibility study will incorporate the results of the recent market value-in-use study, updated macro-economic assumptions and several other optimisations and updates, including an updated mine plan, an optimised tailings dump and updated capital and operating costs.

RNC expects to receive the results of the updated feasibility study by June 2019, following which the partners would weigh a construction decision.