SYDNEY (Yosefardi) – Kingsrose Mining Ltd expects final permits for the second gold mine Talang Santo in Way Linggo project, Sumatra, to be secured in April 2013.
Kingsrose informed ASX this morning that mine development has been undertaken on a limited basis, following approval of the technical and economic components of an updated feasibility report in June 2013.
Delays in finalizing regulatory approvals are expected to result in annual production falling short of 20,000 ounces target for financial year 2013/14.
The final permits pending are final forestry borrow and use (pinjam pakai) and approval of an extension to the existing environmental assessment (AMDAL) to include the Talang Santo mine and associated infrastructure.