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Kingsrose a step closer to production

6th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed gold hopeful Kingsrose Mining on Friday announced that it had received the first of two outstanding permits to start production at its Talang Santo mine, in Indonesia.

The junior told shareholders that it had now received Ministerial approval for the extension of the existing project environmental assessment.

“Granting of the environmental licence represents a significant milestone in the permitting process and a step closer to the resumption of production at the Way Linggo project,” said Kingsrose MD Scott Huffadine.

The grant of the final and separate forestry “borrow and use” permit was now being processed by the Forestry Department, and Kingsrose was hoping to receive this permit by the end of June.

Talang Santo is the second underground mine at the Way Linggo gold project, is 17 km from project infrastructure and has a resource of 287 489 oz of gold and 894 951 oz of silver.

The ASX-listed junior had previously expected that the permits to allow the mine to transition to full production would be obtained by the end of April, but regulatory clearance had taken longer than expected.

Edited by Creamer Media Reporter

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