An emerging Western-Australian gold company has secured a key approval for the development of its new, high-grade gold mine.
EganStreet Resources has announced in a statement this week that its flagship 100%-owned Rothsay Gold Project has secured a key approval from WA Government.
The WA Department of Mines, Industry Regulation and Safety (DMIRS) has approved a Project Management Plan (PMP) for the project, which represents the first four three key approvals required to allow construction activities and operations to begin.
Rothsay would be a low cost, high-margin producer, which will produce 250,000 oz of gold over an initial 6.5-year mine life, with increased average annual production of around 53,000ozpa over the first four years.
EganStreet has also submitted an official Mining Proposal to the DMIRS and once it receives approval, the company will be able to start key works at the project. These key works include the construction of an onsite camp, power station and local site offices.
“We have already submitted our Mining Proposal and we are well advanced in project financing discussions,” said Marc Ducler, Managing Director, EganStreet.
“At the same time, we are continuing our exploration programme with the aim of growing our Resource, Reserve and mine life,” he added.