Fortune Minerals Ltd. (TSX:FT,OTCQX:FTMDF) has announced that the Honourable J. Michael Miltenberger, Government of the Northwest Territories (GNWT), Minister of Environment and Natural Resources has granted Fortune final approval for the Type A Water License required for its NICO gold-cobalt-bismuth-copper mine and concentrator. The final licence was required to construct and operate the NICO mine.
As quoted in the press release:
Along with the earlier issued Land Use Permit (see Fortune News Release dated June 18, 2014) this constitutes the final step in the permitting process and the Company can now commence construction of the mine upon receipt of project financing and after making the initial closure bond payments to the GNWT. Fortune continues to work with Deloitte Corporate Finance Canada Inc. to secure project financing and negotiations are advancing with a strategic partner and its banks.