The Secretary of Mines of Antioquia has formally approved the Mining Technical Work Plan (Programa de Trabajo y Obras or "PTO"), which was submitted in November 2013, in Resolution 121146, dated August 12, 2014. This is the final approval required subject to receiving the Environmental License.
As previously reported, a comprehensive Environmental Impact Assessment ("EIA") including an Environmental Management Plan ("EMP") was submitted on February 20, 2014 to Corantioquia (Department of Antioquia Environmental Agency). The EIA was prepared by Tetra Tech, a leading international engineering firm. Approval of the EIA and EMP by Corantioquia, which grants the Environmental License, is the final permit required for construction and mining of the San Ramon Gold Deposit.
A Definitive Feasibility Study ("DFS") of the San Ramon Gold Deposit is being prepared by Lycopodium, a leading international project management and engineering firm.
The DFS is on schedule for completion this month.
