The company said it will fund the Madaouela ESIA using the proceeds from its IPO on the Canadian Securities Exchange and existing working capital.

With the completion of the ESIA and the feasibility study, GoviEx will be able to obtain mining permit for the project.

GoviEx CEO Daniel Major said: "GoviEx’s strategy remains focused on adding value and that includes strategically reducing the risk associated with the Project."

"The completion of the ESIA will culminate the detailed feasibility study and environmental work already undertaken to date."

SRK and Legeni have earlier completed initial environmental and social (E&S) works, including the commencement of primary baseline data collection, preparation of the initial submission to Nigerien authorities and identification of likely issues, and opportunities for the project.

The scope of the latest contract includes completion of the ESIA by expanding on previous work, which will allow preparation of an ESIA report for submission to the Niger regulatory authorities for a 20-year extendable mining permit for the project.