Cerrado Gold (TSXV:CERT) (OTCQX:CRDOF) announced that its Monte Do Carmo gold project in Brazil has received the Preliminary License (“LP”) from the Instituto Natureza do Tocantins (“NATURATINS”) the state environmental regulatory authority, which has authority to grant state permits.
Highlights:
- Preliminary License (“LP”) granted to Monte Do Carmo (“MDC”) by Tocantins state environmental agency
- First in three stage license process to bring the MDC project into production
- Installation license expected within 90-120 days
The mine permitting process in Tocantins has three stages, the LP, the installation license (“LI”), and finally the license to operate (“LO”). The granting of the LP is an important milestone in the licensing process as it outlines all the basic parameters of the project to be accepted by all parties, including the local community and relevant regulatory bodies. The subsequent installation license allows for the commencement of construction activities for the project. The Company expects to receive the LI within the next 3 to 4 months. The final license, the LO, is granted upon completion of construction and at commencement of operations.
Mark Brennan, CEO and Chairman commented:
“The award of the LP is a significant milestone for the MDC project and reflects the great work done by our Brazilian team and represents a significant endorsement from the community and regulators for the development of the project. As previously announced, discussions for Project Financing are ongoing, and we look forward to the completion of the FS in the coming weeks as we work to bring the Monte Do Carmo project into production”
Cerrado Gold is a market awareness client of Capital 10X.
