- Altamira Gold Corp (TSXV:ALTA) has received a second environmental permit for its Cajueiro Gold project in Brazil
- The company needed the second environmental license before the site can be granted a second trial mining license
- Trial mining is scheduled to begin at the end of 2021, following the construction of a processing plant at the site
- Alongside this news, Altamira has appointed Soraia Morais as the company’s new Chief Financial Officer
- Altamira Gold Corp (ALTA) is in the grey and is trading at C$0.08 per share, with a market cap of $7.9 million
Altamira Gold Corp (TSXV:ALTA) has received its second environmental permit for the Cajueiro Gold project in Brazil
Permits are already in place for a1000-tonne-a-day processing plant, with construction expected to begin in the second half of this year.
The second permit will expand the available zone the company can draw material from, which now includes the project’s entire Crete resource.
Altamira is now just awaiting the receipt of its second trial mining license, which required the new permit.
Assuming the company receives said permit, and once the construction of the processing plant concludes, Altamira will be able to produce 100,000 tonnes a year at Cajueiro. This is expected to occur around the end of 2021.
President and CEO of Altamira Gold, Michael Bennett is pleased with the latest developments at the site.
“The publication of the second Environmental License on our flagship Cajueiro project is yet another important milestone for the company as we advance towards trial mining and gold production during late 2021.
“The second bulk sampling license will enable Altamira to produce 100,000 tonnes of ore during the initial year of mining and will help to reach the goal of achieving short term cash flow,” he said.
Alongside this news, Altamira has appointed Soraia Morais as the company’s new Chief Financial Officer.
Soraia is a dual British and Canadian citizen and has previously worked at Pricewaterhouse Coopers Brazil, as well as in previous resource sector jobs.
Altamira Gold Corp (ALTA) is in the grey and is trading at C$0.08 per share at 1:33pm EDT.