RE: RNS Out12 Feb 2021 07:10
GoldStone Resources Limited (AIM: GRL), the AIM quoted gold exploration and development company focused on bringing its Akrokeri-Homase Gold Project ("AKHM") into production, is pleased to announce that the Ghanaian Environmental Protection Agency ("EPA") has granted the environmental permit for the Company's Homase South Pit within the AKHM Project (the "Project") (the "Environmental Permit"). The Environmental Permit is a key permit required to allow the Company to proceed towards construction of the Project. This is a major achievement in the development of the AKHM Project, which will be the Company's first mine in its highly prospective 83.24km2 total licence area.
With the Environmental Permit now granted, the Board expects mining and construction operations at the Project to commence imminently, with an estimated timeline for the first gold pour being within two months. The Environmental Permit, along with the 10-year Mining Lease which received Parliamentary Ratification on 22 December 2020, are a prerequisite for procedural operational permits which are expected to be granted on a timely basis.
As announced on 3 December 2020, the Company will also now make an application to the EPA for the Environmental Permit to be expanded to also cover the whole of the Company's expanded mining lease in respect of AKHM, including the Homase North and Homase Central pits.
Emma Priestley, Goldstone's CEO, commented:
"We have been eagerly awaiting receipt of this permit so that we can start construction and mining. The permitting process has taken approximately six months longer than what we initially anticipated, but we are delighted to now be in a position to commence the next stage of operations at the AKHM Project."
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