Village 'disturbance' slows True Gold's Karma construction work
TORONTO (miningweekly.com) – True Gold Mining, which is developing the $131.5-million Karma gold project, in Burkina Faso, on Tuesday reported that a "disturbance" in a local community had resulted in the company temporarily halting part of the construction activities at the project in order to ensure worker safety.
The TSX-V-listed project developer said that it was working closely with a delegation from the Burkina Faso Ministry of Mines, as well as the regional government to address the community’s concerns and ensure a timely return to normal operations.
The Karma site had not been affected by the disruption and remained fully secured. The company expected the situation to be rectified “shortly” and continued to target commercial production by the end of next year.
True Gold in November reported that to date, it had spent, as well as committed, about $51.5-million, or more than 39% of the total initial capital expenditure budget for the Karma project.
The TSX-V-listed stock was on Tuesday trading up almost 7% at C$0.235 apiece.
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