Troy gets green nod for Karouni
UPDATE 1.20pm: Shares in Troy Resources jumped after the gold miner announced it had received an environmental permit for the construction and operation of its Karouni gold project in Guyana.
The stock also benefitted from the gold price touching a one-month high of $US1228.33 an ounce.
The permit is valid for five years and forms an essential requirement for approval and operation of the project's mining licence.
Troy said Karouni remained on track for the start of operations in the second quarter of this calendar year.
Chief executive Martin Purvis said the permit was another important milestone in the development of Karouni and represented a significant achievement in terms of the constructive working relationship between the authorities in Guyana and Troy’s local management team.
“Karouni is now gathering momentum in terms of activity on the ground and the mobilisation of a skilled local workforce and we look forward to meeting our first production target in the June quarter,” he said.
Troy shares were up 3.5 cents, or 6.36 per cent, to 58.5 cents at the close.
