Euro Sun hoping to start construction in 2021
The last two quarters have come with significant change for Canada-based junior Euro Sun, which is developing the ten-million-gold-equivalent-ounce Rovina Valley project, in Romania.
Operationally, Euro Sun added to its senior management to advance the permitting and engineering at Rovina Valley, financially, it secured a $22.3-million investment by global institutional precious metals funds, and governance wise, director changes were made and the corporate head office was relocated.
“All of these milestones paired with a rising gold price should serve to highlight the tremendous potential for a re-evaluation of Euro Sun,” says chairperson and CEO Scott Moore.
The $22.3-million bought deal equity financing that Euro Sun closed in June should be sufficient to obtain a construction decision, the company notes. To advance to the construction phase, Euro Sun requires two certificates – the area land use plan and the project technical design.
For the land use certificate, rezoning is required and the company received a rezoning urbanisation certificate from the Hunedoara country. Public consultation on the zoning plan should start in mid-October.
The second certificate of urbanism is for the technical design and includes the environmental impact assessment of Rovina Valley, along with other documentation. Euro Sun reports that multiple sub-studies forming part of the project technical design are under way or completed.
The company aims to have the certificates completed or substantially complete by end of 2020, in order for construction to begin in early 2021.
The second key deliverable for 2020 is the completion of a definitive feasibility study, which it aims to complete by the end of the year.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation