Auryx Gold Corp. (TSE:AYX) reports that the Namibian Ministry of Mines and Energy has granted to the company five new exclusive prospecting licences covering approximately 500,000 ha.
The press release is quoted as saying:
The locations of the Licences are show at http://auryxgold.com/projects/project_locations/. With the new licences, Auryx now has eleven EPLs covering approximately 900,000 ha, an area more than eleven times the size of New York City. Auryx has a 100% interest in all of the new licences except one, in which case the interest is 92%.
Auryx Gold’s President and CEO, Mr. Searcy says:
“The granting of these licences is significant because it confirms the MME’s comments from 12 May 2011, that no pre-existing EPL applications will be affected by the proposed change toward government exclusivity. Furthermore, it confirms the view of Auryx’s management that the proposed changes to policy will have no or limited impact on Auryx’s business going forward. We welcome the government’s stance on existing tenure and believe this demonstrates the Namibian Government’s appreciation of foreign investment and their intent to manage natural resources pragmatically.”