Argonaut Gold Selects ARES PRISM Cost Management Software for the Magino Mine Project

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The Magino Project in northern Ontario, Canada, will be utilizing ARES PRISM cost management software to manage cost and increase efficiency on the mining project.

“I have seen ARES PRISM successfully used on other mining projects and look forward to bringing the same best-in-class cost control to the Magino Project.”

Argonaut Gold, a Canadian gold company focused on delivering maximum value from their projects and gold mining operations, has selected ARES PRISM project control software to manage project cost and increase efficiency on the Magino Project.

Located in northern Ontario, the Magino Project has several key components including an open pit mine, processing plant, tailings storage facility, water quality control pond, overburden stockpile facilities, administration and maintenance buildings. The Magino Project is currently estimated to cost between C$480 million and C$510 million to build and will be constructed over a 24-month period. During construction approximately 500-600 jobs will be created, and the project is forecast to come online in the first half of 2023.

Argonaut announced in January 2021 that the province of Ontario officially filed the closure plan for Magino marking what is, according to President and CEO Pete Dougherty “a significant milestone and allows us to begin site preparation activities for construction of the Magino mine and processing facility.”

This year, Argonaut expects to produce 210,000 to 250,000 gold-equivalent ounces at all-in sustaining costs of US$1,250 to US$1,350 per ounce sold.

“I have seen ARES PRISM successfully used on other mining projects and look forward to bringing the same best-in-class cost control to the Magino Project,” Kristin Rygnestad, Project Controls Manager at Argonaut Gold, explained.

ARES PRISM is a project management information system that helps manage project cost across the entire lifecycle. Argonaut will be utilizing the cost management, contracts and procurement management, change management, and reporting functionality. They will manage budgeting, time-phasing, progress and performance measurement, and forecasting all in one centralized location.

“Argonaut Gold aims to operate in a safe and cost-efficient manner,” Geoffrey Stubson, Chief Financial Officer of ARES Project Management, LLC, said. “ARES PRISM will help Argonaut manage cost, increase efficiencies and improve collaboration.”

ARES PRISM software is utilized across many sectors including mining, infrastructure, oil and gas, energy, utilities, construction, and more to manage the performance of projects at every stage all within a single platform. Clients enjoy the flexibility of choosing the ARES PRISM products they need to fit their portfolio, whether it is estimating, cost management, engineering management, procurement, document management, contract management, field management, executive dashboards, or our integration platform.

About ARES PRISM
ARES PRISM is enterprise project controls software that manages the complete project lifecycle delivering dependable forecasts, cost control, and performance measurement. PRISM is a scalable, robust and intuitive system that harnesses industry best practices and integrates all aspects of the project, including cost and schedule, change management, project estimating, earned value, contracts & procurement, and field progressing. Achieve superior project management with increased visibility and control, boosted accuracy and efficiency, and improved financial performance. Learn more at http://www.aresprism.com.

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