The Conversation (0)
DPM Metals Inc. (TSX: DPM,OTC:DPMLF, ASX: DPM) ("DPM" or "the Company") confirmed that it received notification from the Ministry of Environment and Energy that it has revoked the environmental licence for the Loma Larga project in Ecuador.
"DPM is committed to the highest standards of environmental stewardship and transparency, and we strictly comply with the laws in the countries where we operate," said David Rae, President and CEO.
"We are deeply concerned by the decision to revoke our environmental licence, which was issued in June following a rigorous process by the government to ensure high Ecuadorian standards are applied in the development of Loma Larga. We are confident that our environmental management plan and the robust environment protection measures in place for Loma Larga are in compliance with those standards.
"Responsible management of water and the sensitive environmental ecosystem near Loma Larga are key considerations in the project's design. Water studies conducted by independent experts, DPM and the regulators, consistently demonstrate that the project would have no adverse impact on water supply.
"In light of this development we are assessing all available options to preserve value and maintain optionality for our shareholders."
About DPM Metals Inc.
DPM Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM trades on the Toronto Stock Exchange (symbol: DPM) and the Australian Securities Exchange (symbol: DPM).
For further information please contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dpmmetals.com
