Empire Resources Penny’s Find project has received the greenlight from the WA DMP.
According to the junior, it has received notification of the assessment of the project’s management plan, which reportedly satisfies the requirements.
“This is a critical approval that means there are no technical impediments for our plans to mine at Penny’s Find upon the completion of the Bankable Feasibility Study and financing arrangements,” Empire Resources’ managing director David Sargeant said.
“With a high grade open pit planned to a depth of a 80 metres, this project represents an excellent near term production opportunity for Empire given the current high gold price.”
The mine will commence open pit mining from the middle of the year, with first gold production slated for the second half of 2016.
“We also believe there is substantial upside at Penny’s Find once an ongoing study into development of the underground resource has been completed,” Sargeant said.
“This along with exploration potential at depth bodes well for the long term future of the project.”
The project is located 50 kilometres northeast of Kalgoorlie, in WA.