Core Gold will maintain a workforce at Dynasty Goldfield to conduct care and maintenance activities and special projects
Core Gold Inc. (“Core Gold” or the “Company”) (TSX-V: CGLD, OTCQX: CGLDF), is announced that the Company is temporarily suspending operations at its Dynasty Goldfield project in Ecuador amid growing concerns regarding the spread of the coronavirus (COVID-19) in the country.
Central, Provincial and local Municipality government decrees regarding gatherings, travel and transport within Ecuador will impact the Company’s ability to efficiently operate and therefore the Company has elected to suspend operations during this difficult time.
Core Gold will maintain a workforce at Dynasty Goldfield to conduct care and maintenance activities and special projects in order to minimize the impacts of this temporary shutdown. In the upcoming weeks, the Core Gold will conduct a workforce and working capital review, along with the Company’s parent company, Titan Minerals Ltd.
As the situation is constantly changing and relies heavily on both the municipal, provincial and federal governments, the Company cannot currently indicate the duration of the temporary suspension on the Company’s operations nor its full operational and financial impact.
“The situation in Ecuador has changed drastically and has been challenging last week,” said Mark Bailey, CEO of Core Gold. “We continue to emphasize the importance of health and safety of our employees and the local communities in which we operate. In consultation with both local government officials and the Government of Ecuador, we have made the decision to temporarily suspend operations in order to minimize the risk to our employees and to local communities.”
Source: Company Press Release