PERTH (miningweekly.com) – ASX-listed junior Cardinal Resources has been granted a water extraction permit for its Namindi gold project, in Ghana, by the Ghanaian Water Resource Commission.
The permit allows Cardinal to extract water from the White Volta river for mining and processing purposes and from boreholes within the mining licence area for mine construction and development purposes.
“We are enthused with the granting of these critical permits as they are essential to the Namindi project. With these approvals in place, there is clear demonstration of continued support for the project development from the Ghana government,” said Cardinal CEO and MD Archie Koimtsidis.
‘The Namindi gold project is rapidly and successfully moving into its development phase,” he added.
An October feasibility study into the project estimated that it would produce some 4.2-million ounces of gold over a mine life of 15 years, with an estimated 1.1-million ounces expected over the first three years of the operation. Namindi is expected to cost $390-million to develop.