19:34:01 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Sama Resources Inc
Symbol SME
Shares Issued 191,241,410
Close 2019-04-01 C$ 0.245
Market Cap C$ 46,854,145
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Sama investment SRG receives Lola environmental cert

2019-04-02 11:37 ET - News Release

Dr. Marc-Antoine Audet reports

SAMA RESOURCES REPORTS ON SRG GRAPHITE RECEIVING ENVIRONMENTAL CONFORMITY CERTIFICATE FOR LOLA GRAPHITE PROJECT

Sama Resources Inc. has noted that SRG Graphite Inc. has received its environmental conformity certificate from the government of Guinea for its Lola graphite project. This certificate is the only environmental and social permit required to move forward with the construction of the project. With this certificate in hand, SRG is now in a position to file for its mining licence, another crucial permit required for construction.

SRG worked with Montreal-based EEM Sustainable Management and Guinean firms Sylvatrop Consulting (a biodiversity expert) and Guinee Environment Services to produce a study that meets Guinea's standards and the International Finance Corp. 2012 edition of the environmental and social performance standards.

SRG is partnering with Giovannetti Consultant to develop its resettlement action plan, which will also follow IFC's 2012 edition of the performance standards, namely PS5 pertaining to land acquisition and resettlement. While only 150 economic relocations and six physical relocations are expected, a well-detailed resettlement action plan is required to ensure best practices are followed. Frederic Giovannetti, founder of Giovannetti Consultant, brings over 38 years of relevant experience and has recently led the preparation of the new IFC Resettlement Handbook to be published in 2019.

With the environmental conformity certificate in hand, SRG now has all the required documents to apply for a mining licence from the Ministry of Mines. SRG filed its mining licence application on April 1, 2019.

About Sama Resources Inc.

Sama is a Canadian-based mineral exploration and development company with projects in West Africa. Sama holds a control position in SRG of 24,658,267 shares, representing 35.54 per cent of the issued and outstanding shares of SRG, and is considered an insider for reporting purposes.

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