Roxgold Receives Mining Convention Approval for Yaramoko

Roxgold (TSXV:ROG) has received approval for its mining convention at the Yaramoko gold project from Burkina Faso’s Council of Ministers. Previously, Roxgold received approval of a state decree for the project, granting it the rights to develop and operate Yaramoko.

As quoted in the press release:

The Mining Convention sets out the fiscal and legal terms with respect to the operation of the Yaramoko Gold Project, including taxation rates applicable to the Project, per the 2003 Burkina Faso Mining Code. The Convention is valid for 20 years commencing on the date of the grant, and may be renewed for subsequent periods of 5 years. The receipt of the Convention also satisfies a key condition precedent associated with the Project’s debt financing.

Construction activities at Yaramoko are progressing well with the accommodation camp and bulk earthworks well advanced. Excavation of the boxcut which allows underground development to commence, is completed. In addition, plantsite earthworks are completed which will enable the mobilization of the EPC Contractor in the coming weeks. We invite our shareholders to follow Yaramoko’s progress in the photo gallery at www.roxgold.com.

Roxgold president and CEO, John Dorward, said:

We are delighted to announce the finalization of the Mining Convention as it signifies yet another positive milestone in the development of Yaramoko. We look forward to continuing our development and working with all stakeholders in Burkina Faso to bring Yaramoko into production in mid-2016.

Click here to read the Roxgold (TSXV:ROG) press release