The Prospector News

Roxgold Announces Approval of Environmental and Social Impact Assessment for the Yaramoko Gold Project

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Roxgold Announces Approval of Environmental and Social Impact Assessment for the Yaramoko Gold Project

 

 

 

 

 

Roxgold Inc. (TSX-V:ROG) is pleased to announce that the Burkina Faso Ministry of Environment and Sustainable Development has approved the Environmental and Social Impact Assessment for the Yaramoko Gold Project.  This marks a key milestone in the permitting process, for which the Company has already completed public consultations and crop compensation agreements.

 

 

“The approval of the ESIA is a major achievement for our Company and brings us to the final stages of the permitting process for Yaramoko,” said John Dorward, President and Chief Executive Officer. “We would like to thank the government of Burkina Faso and its permitting bodies as well as our surrounding communities for the strong support they have demonstrated for the project.”

 

 

The Company’s next permitting milestones are the receipt of the Exploitation (Mining) Permit and completion of its Mining Convention, which will enable the commencement of development activities. The commencement of development activities is scheduled for the fourth quarter.

 

 

Project Update

 

 

Following the announcement of its $75 million Debt Financing Mandate in June 2014, Roxgold continues to further its financing strategy.  The Company expects to finalize its debt financing package within the fourth quarter of 2014.

 

 

Roxgold also continues to advance development milestones including ongoing detailed engineering for the project which is progressing on schedule.  Sourcing of long lead items has commenced, with costs quoted in line with the expectations outlined in the Feasibility Study published in April 2014.  In addition, the Company is progressing with the selection of its EPCM contractor, which is expected to be finalized in the current quarter.

 

 

Negotiations with SONABEL, the national electricity provider in Burkina Faso, continue to advance with expected finalization within the fourth quarter.  The Company expects to benefit from significant projected cost savings associated with connecting the project’s future processing plant to the 90Kv power line currently under construction within four kilometres of the 55 Zone, as outlined in its Feasibility Study.

 

 

Upcoming Catalysts

 

 

Expected Timeline

Finalization of Underground Mining Contract

Q3 2014

Securing Initial Long Lead Items

Q3 2014

EPCM Contract Finalization

Q3 2014

Power Line Agreement Finalization

Q4 2014

Exploitation (Mining) Permit Approval

Q4 2014

Finalization of Debt Financing

Q4 2014

Commencement of Underground Development

Late Q4 2014

 

 

About Roxgold

 

 

Roxgold is a gold exploration and development company with its key asset, the high grade, 100% owned Yaramoko Gold Project located in the Houndé greenstone region of Burkina Faso, West Africa.  The Company is currently advancing Yaramoko’s 55 Zone through permitting and, subject to making a positive construction decision, expects to commence development in Q4 2014. 

 

Posted August 19, 2014

Share this news article

MORE or "UNCATEGORIZED"


Talisker Intersects 995 g/t Gold Over 0.5 Metres within 227.55 g/t Gold Over 2.25 Metres at the Bralorne Gold Project

Talisker Resources Ltd. (TSX: TSK) (OTCQX: TSKFF) is pleased to a... READ MORE

November 26, 2020

Copper Mountain Closes C$17.25 Million Bought Deal Offering of Common Shares

Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) i... READ MORE

November 26, 2020

Surge Copper Drills 0.72% Copper Equivalent Over 176.1 Metres At Ootsa Including 0.89% Copper Equivalent Over 126 Metres

Surge Copper Corp. (TSX-V: SURG), is pleased to announce assay re... READ MORE

November 26, 2020

Kirkland Lake Gold Announces Sale of Novo Shares and Warrants

Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) announced it... READ MORE

November 26, 2020

Newcore Gold Intersects 1.38 g/t Gold Over 45.0 Metres, Including 6.25 g/t Gold Over 6.0 Metres, at the Enchi Gold Project, Ghana

First Results from the Nyam Gold Deposit at Enchi; Second Drill R... READ MORE

November 26, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions