Avanti Mining Inc. (TSXV:AVT) announced that on June 13, 2014, the British Columbia Ministry of Energy and Mines issued an amendment to the company’s existing Mines Act Permit.
As quoted in the publication:
The decision to issue the amended M-10 permit was made after a comprehensive review by the Kitsault Mine Review Committee (‘KMRC’), consisting of representatives from relevant regulatory agencies, the Nisga’a Nation and the Metlakatla First Nation. Avanti expects to receive the remaining secondary construction related approvals in the very near future.
Avanti CEO Gordon J. Bogden said:
This is a very significant milestone for the Kitsault molybdenum project. Further, it is a forerunner for other corollary leases and licenses that are anticipated within a few days and which will allow us to commence road and camp construction at site. Avanti’s pre-construction funding was secured in December 2013 in the form of a $50 million loan from Resource Capital Funds. In the meantime Avanti continues its project debt negotiations with its banking syndicate while it explores in parallel a number of other financing sources such as a sale of a silver stream, and investment by a strategic partner.