LONDON (Alliance News) - Golden Saint Resources Ltd on Monday said it has received written confirmations that the renewal applications for its three exploration licences in Sierra Leone have been approved.
It now has until June 3 to inform the Minister of Mines it intends to accept the three proposed licences in the West African country. Following this acceptance, the National Minerals Agency will provide the company with detailed terms of the renewed exploration licences, including any annual fees to be paid.
Elsewhere, Golden Saint said that bulk sampling operations at its Tongo licence in Sierra Leone are ongoing, under the supervision of Rock Forage Mining Ltd. Improvements in its operational and reporting procedures have been implemented based on Rock Forage's recommendations, primarily to ensure samples that have been treated are properly accounted for and grade estimates are accurate.
Shares in Golden Saint were down 2.9% at 0.0825 pence on Monday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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