True Gold Provides Progress Update on Karma
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 29, 2015) - True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") today provided the following progress report outlining efforts to resume full construction at its Karma Gold Project ("Karma" or the "Project") in Burkina Faso:
- The Government of Burkina Faso is meeting with community members to re-establish the Community Liaison Committee (CLC) in order to facilitate a return to work and resumption of construction.
- True Gold expects the new CLC to serve as an important bridge between the Project and the local community going forward. The Company hopes to resume work as issues are discussed and resolved through the CLC, which dissolved late last year with the change in central government. The CLC was originally created in 2012 and served as an effective channel for dialogue, engagement, issue resolution and Project orientation. It included representation from 65 different stakeholders, including True Gold.
- During this period, True Gold is taking appropriate steps to limit its capital expenditures, including reducing employees, deferring payments, and holding materials and equipment in supplier inventory.
- The Company is finalizing a plan that will enable an efficient restart of operations at the mine. Our team is working closely with SENET, the engineering, procurement and construction management (EPCM) contractor for Karma. We anticipate having this plan completed in the coming weeks.
- True Gold has received assurances from the central government in Burkina Faso that Company permits remain valid and secure for all deposits.
- Additionally, the Burkina Faso Minister of Mines and Energy along with the Governor of Yatenga Province held a nationwide press conference on January 20, 2015 where they reinforced the validity and acceptance of the Karma Mine plan and promoted community dialogue.
Mark O'Dea, True Gold's Executive Chairman and interim President and CEO, said: "When we began work in Burkina Faso 10 years ago, we made a commitment to give back to the community we operate in and the people we depend on. To this end, we've helped build out critical local infrastructure, including establishing water wells, upgrading roads, erecting a year-round fresh water barrage, planting hundreds of trees, and providing enhanced medical care. We've also created roughly 450 jobs, and provided a significant boost to the regional economy. Going forward, as part of a broader development plan created in concert with all the Project's stakeholders, we've committed to provide additional water access, road upgrades, improved educational resources and further skills training.."
Quelle: truegoldmining.com
Quelle: truegoldmining.com
Quelle: truegoldmining.com
Quelle: truegoldmining.com
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