Dundee Precious Metals Announces Receipt of Final Construction Permit for the Krumovgrad Gold Project
Dundee is currently executing a systematic exploration program on the mine concession, and the surrounding exploration licenses, to identify additional resources to extend the current eight year mine life.
Dundee Precious Metals Inc. is pleased to report that the final construction permit for the Company’s Krumovgrad gold project in Bulgaria has been issued by the Chief Architect of the Krumovgrad Municipality. The statutory review and appeal period has expired and the permit is in force as of August 9, 2016. With final preparatory activities expected to be completed during the third quarter, and the recent completion of the sale of Kapan, equity offering and commodity hedging, the Company is well positioned to commence the construction phase of this project following receipt of Board approval.
“After 12 years of continuous investment in Bulgaria at the Chelopech mine and Krumovgrad project, we are pleased and excited to announce that we have received the permit to construct the Krumovgrad mine, a high value return project for all stakeholders. The receipt of this permit is a testament to the commitment of our project team to listen to the concerns of the local community and design a project capable of gaining the support of the community and other key stakeholders,” said Rick Howes, President and CEO. “We are on track to break ground on this project, as scheduled, and commence production in the second half of 2018.”
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