USAU - U.S. Gold receives key permit for CK Gold Project in Wyoming

2023-07-12 09:25:11 ET

U.S. Gold ( NASDAQ: USAU ) +4.4% pre-market Wednesday after saying Wyoming's Department of Environmental Quality granted an industrial siting permit allowing for construction and operation of the proposed mine at the CK Gold Project.

The ISP, required for all projects in Wyoming projected to exceed $253.9M in construction and mine capital costs, is the first of two critical permits necessary for the CK Gold Project; the Mine Operating Permit and Mine Closure Plan is the second major permit package, which the company expects to be approved as early as H1 2024.

"While copper-gold mining has not recently been permitted in the state of Wyoming, state agencies are well versed in regulating the extractive industry," President and CEO George Bee said. "The opportunity to develop a mine in Wyoming is considered exceptional at a time when other jurisdictions pose challenges to developers."

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