Roxgold also has the Yaramoko mine in Burkina Faso forecast to produce 120,000-130,000oz in 2021.

The company's share price has more than doubled since this time last year, to C$1.56, capitalising it at about C$584 million.

Roxgold said Lycopodium had built more than a dozen gold plants in West Africa since 2009, including three in Cote d'Ivoire in the past three years, and had a "long established track record of developing and commissioning high quality gold projects on time and on budget".

Roxgold has also ordered a SAG million from Metso Outotec in Finland and plans to award the openpit mining contract later this year. It has started site camp construction works and says surveying has been completed for the 33kV and 90kv power lines to tie into the existing 90kV transmission line running across the property which is connected to the 225kV ring main system around the country.

"The Seguela project has rapidly become a cornerstone asset for Roxgold," said Roxgold president and CEO, John Dorward.

"The feasibility study is on track to be announced in the second quarter, which we believe will demonstrate the ongoing evolution of the Seguela PEA with an enhanced mine life and project economics with the inclusion of the high-grade Koula deposit into the mine plan."