Sandstorm reports major permitting milestone for Hod Maden gold project in Turkey
(Kitco News) - Today, Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) announced that Lidya Madencilik, the operator of the Hod Maden project, has received the final approval of the Environmental Impact Assessment ("EIA") for the project from the Ministry of Environment and Urbanization of Turkey.
The results from the Hod Maden Feasibility Study are expected to be released in the coming weeks, the company said in a statement.
"The granting of the EIA represents a major milestone for the Hod Maden project," announced President and CEO Nolan Watson. "This approval marks the next development phase and triggers several key catalysts for Lidya including the application for the final permits and initiating long-lead construction items."
Sandstorm Gold Royalties is a gold royalty company that provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine.
The company has acquired a portfolio of 229 royalties, of which 28 of the underlying mines are producing. Sandstorm Gold Royalties indicated that it plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties.
By Vladimir BasovFor Kitco News
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