'We are delighted to announce the approval of the exploitation permit which represents a significant milestone in the development of Seguela ,' commented
'In addition to the positive impact Seguela will have on the surrounding communities, the project has the potential to more than double our production for shareholders within a short time frame and without the need for additional equity. The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming
Exploitation Permit
The exploitation permit has been approved by the
The Company's final permitting milestone at Seguela is the completion of the
Early Works
Figure 1 - Seguela Camp Construction Kick-off
Following the receipt of the Environmental and Social Impact Assessment in September of this year (refer to Company press release dated
Initial works include upgrading the site access road, construction of the accommodation village, and front end engineering of the processing plant. The intention of the early works activities is to enable a rapid ramp up to full construction next year with the aim of production commencing in 2022.
The Company is on track to complete the Feasibility Study for Seguela in the first half of 2021.
About
Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'). Such forward-looking statements include, without limitation: economic statements related to the PEA, such as future projected production, capital costs and operating costs, statements with respect to Mineral Reserves and Mineral Resource estimates, recovery rates, timing of future studies including the feasibility study, environmental assessments and development plans. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as 'anticipates', 'believes', 'could', 'estimates', 'expects', 'may', 'shall', 'will', or 'would'. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the PEA, the estimation of Mineral Resources and Mineral Reserves, the realization of resource estimates and reserve estimates, any potential upgrades of existing resource estimates, gold metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: delays resulting from the COVID-19 pandemic, changes in market conditions, unsuccessful exploration results, possibility of project cost overruns or unanticipated costs and expenses, changes in the costs and timing of the development of new deposits, inaccurate reserve and resource estimates, changes in the price of gold, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements, including the factors included in the Company's annual information form for the year ended
Contact:
Vice President, Investor Relations
416-203-6401
gjennings@roxgold.com
(C) 2020 Electronic News Publishing, source