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Production / Operations

Foran Reports Q3/25 Construction Progress at McIlvenna Bay

By The Northwire Desk — AI Analysis Oct 22, 2025 · 06:00 FOM · 3.35 FORAN MINING CORPORATION J
FOM · Price

Executive Summary

  • Foran Mining reports McIlvenna Bay project construction is ~64% complete, a record 22% quarterly advance, keeping the mid‑2026 commercial production target on schedule and within budget.
  • Underground development reached 1,679 m in Q3 2025 (up from 1,232 m in Q2), with first‑production stope drilling commissioned and ore stockpile now ~125,000 t.
  • Major surface milestones achieved include flotation tank and thickener installations, dry‑stack tailings liner completion, substation progress, and substantial concrete, steel, and transmission line work—all progressing toward a December 2025 concrete finish and March 2026 power energization.

Key Details

  • Project Completion: ~64% as of 30 Sep 2025; record quarterly construction progress of 22%.
  • Safety Metrics: YTD LTIFR = 0.8, TRIFR = 2.7 (over 1,550,000 person‑hours).
  • Underground Development: 1,679 m total (1,554 m lateral, 125 m decline); avg. advance ≈18 m/day; first production stope drilling commenced.
  • Ore Stockpile: Added ~64,000 t in Q3, total ≈125,000 t; target 272,000 t before early‑2026 plant start‑up.
  • Surface Construction Milestones:
  • Flotation tank mechanical components installed.
  • Thickener tanks installed.
  • Main substation infrastructure progressed; backup diesel generators installed.
  • Dry‑stack tailings storage Facility Stage 1 liner completed; water management pond handed over.
  • Run‑of‑mine pad, primary crusher & conveyor foundations completed.
  • Concrete & Steel: ~5,296 m³ concrete poured in Q3 (total ≈17,080 m³ since inception); concrete work slated for completion Dec 2025. ~1,050 t steel installed in Q3.
  • Transmission Line: Engineering & procurement finished; 90% of structures/materials received; energization targeted Mar 2026; erection of first structures to begin Oct 2025.
  • Procurement: 0 packages left to negotiate; 100% of work in progress with 202 packages awarded to date.
  • Human Resources: ~800 personnel on site (167 Foran employees, 633 contractors).
  • Permitting: Remaining plant and water‑line approvals received Sep 2025; commissioning plan submitted.
  • Financial Reporting: Quarterly financial statements & MD&A expected filing around 7 Nov 2025.

Notable Quotes

“Q3 marked a defining period for McIlvenna Bay, with record progress achieved across multiple workstreams… We remain on track to deliver Phase 1 of production in the new year and unlock this world‑class district for generations to come.” – Dan Myerson, Executive Chairman & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the company’s filings.

Read the original news release →

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Production / Operations