Sandspring Inks Memorandum of Understanding for Hydroelectric Power Plant Development
Sandspring Resources Ltd. (SSP.V) has signed a binding memorandum of understanding with the Government of Guyana granting Sandspring the exclusive right to evaluate and develop a hydroelectric power plant on the Kurupung River, approximately 30 miles from its Toroparu Property.
The terms of the 5-year memorandum contemplate that the hydro-electric facility would be developed on a timeline that supports the conversion of the Toroparu Project to hydro-electric power as mining and processing are expanded in the fourth year of Sandspring's mine plan defined in the pre-feasibility study results released on April 10, 2013.
SSP was up nearly 7% to $0.235, trading close to 52-week low 20 cents.
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