Referenced Stocks

UPDATE: Premier Receives Environmental Compliance Approval, Permit to Take Water for Ops at Trans-Canada Project; PG Fell 3.5% Tuesday

By MT Newswires,  October 24, 2012, 08:13:28 AM EDT

Premier Gold Mines Ltd (PG.TO), which fell 3.5% yesterday, announced receipt of an Environmental Compliance Approval ( ECA ) and a Permit to Take Water (PTTW) from the Ontario Ministry of the Environment (MOE). It said this latest milestone is a significant step for the potential advancement of the Trans-Canada Project (TRP.TO) and provides Premier with the ability to de-water and commence Advanced Exploration at the historic MacLeod-Mosher Mine site, which is host to the company's Hardrock deposit. The company is in the final stages of updating its resource estimates and has started evaluating various development options in advance of making a final decision on the Advanced Exploration program.

The ECA and PTTW set out conditions which allow the company to draw water from the MacLeod-Mosher underground workings and then discharge it to the environment in a manner that is protective of all aquatic life and that is consistent with the company's sustainable development philosophy.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ECA



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