Marathon Gold (TSX: MOZ) this morning provided further details on its delays related to its environmental assessment process for its Valentine Gold project. The company previously revealed that the project was expecting delays of “several months” in relation to the assessment review.
As it turns out, their application appears to have been deficient in a number of categories, with the company highlighting that in its response, the Newfoundland Minister of Environment and Climate Change identified a total of ten areas in which the application was deficient.
These ten comments follow the initial federal review, which had 76 information requests, completed earlier this year, as well as 362 information requests from the first round of provincial review comments, and 23 requests from the second round. The last round of responses were provided on October 18, with the ministry responding on October 29 with the further requests.
While the company does not expect to require additional environmental or social data to be collected, Marathon has now guided that it expects delays of approximately six months as a result of the review. This of course assumes that further information requests are not made and that the response provided is sufficient.
Marathon Gold last traded at $2.49 on the TSX.
Information for this briefing was found via Sedar and Marathon Gold. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.