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Moreton Resources Ltd.
Summary
| Project: | Granite Belt | |
|---|---|---|
| Deposit: | Granite Belt | |
| Location: | Australia | |
| Commodities: | Silver-Gold | |
| Date: | 5/16/2017 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Mine Development | |
| Report details: | 16-5-2017: Moreton Resources Ltd. announces an EIA/ESIA report for its Granite Belt deposit at the Granite Belt project. Environmental Authority has been issued for project. Moreton Resources Limited (ASX:MRV) (“Moreton”, “the Company”) is pleased to advi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Moreton Resources Limited (ASX:MRV) (“Moreton”, “the Company”) is pleased to advise of significant progress made by its fully owned subsidiary, MRV Metals Pty Ltd (“MRV Metals”), in regards to securing the necessary approvals and funding to restart production at the Granite Belt polymetallic project, near the township of Texas in southern Queensland. The Queensland Department of Environment and Heritage Protection (DEHP) this week issued MRV Metals with Environmental Authority No EPML04238116, providing environmental consent for the resumption of mining and mineral processing at The Granite Belt Project. The EA will become effective upon the receipt of the Mining Lease, which is the only significant regulatory approval outstanding for the project and is anticipated in the coming months. MRV Metals worked closely with the DHEP in advancing the EA and would like to thank the Department for its professionalism and efficiency in processing the application. In recent weeks, Moreton has received significant interest from parties capable of providing debt funding to assist in meeting the modest capital expenditure required to bring the Granite Belt project back into production, and a facility is currently being negotiated with sophisticated investors. In addition, a number of existing Moreton shareholders have expressed their desire to maintain or increase their respective holdings. The Company is eager to facilitate this in the most fair and equitable way and as such is considering a non-renounceable rights issue to meet the equity component of funding for the Granite Belt project. | |
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