Scarborough , Australia (FSCwire) - Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to announce the Council of Ministers of the Government of Burkina Faso has approved its mining permit application for the Sanbrado Gold Project (formerly known as Tanlouka Gold Project), Burkina Faso.
Highlights
- Approval of Mining Permit Application
- Project name changed to Sanbrado Gold Project
- Feasibility study on track for delivery Q1 2017
- Construction to begin in late 2017
- $17m cash at bank and no debt
Managing Director Richard Hyde commented:
"We are delighted to announce the Company has now completed the permitting process, and can focus on completing the Feasibility Study, and commencing development of the Sanbrado Gold Project.
“We thank the government of Burkina Faso and local stakeholders for their support.”
West African Resources Ltd is pleased to announce the Council of Ministers of the Government of Burkina Faso has approved its mining permit application for the Sanbrado Gold Project. The project name has been changed to better reflect the local community.
The Sanbrado DFS is nearing completion and will be reported along with a NI 43-101 technical report in Q1 2017. Receipt of the mining permit enables development of the Sanbrado Project to proceed on schedule. Construction activities are expected to begin in late 2017 following completion of project financing.
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www.westafricanresources.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/WestAfrican01192017.pdfSource: West African Resources Ltd (TSX Venture:WAF)
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