The Kao and Nami exploitation permits are extensions of the existing Karma Exploitation Permit received in January, 2014, which includes the development of the Goulagou I, Goulagou II and Rambo deposits.
"We now have all required permits in place, both exploitation and environmental, to fully develop all five deposits within the current Karma mine plan," stated Dwayne Melrose, President & CEO of True Gold.
"With the final permits approved, detailed engineering complete, our mining fleet ordered, the barrage complete, and construction underway, we remain on track to build Burkina Faso’s next gold mine and begin pouring gold by the end of 2015." By the end of September approximately USD$30.0M (23%) of the total USD$131.5M Karma Project costs will have been incurred.
The Burkina Faso Council of Ministers approved the Kao and Nami exploitation permits on September 17, 2014.
Burkina Faso’s expedited permitting process, which typically takes from six to eight months from the filing of an application to the granting of an exploitation permit, is a testament to the country’s commitment to creating a positive and supportive mining jurisdiction.
