Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

North River Resources gets environmental clearance in Namibia

Shares in North River Resources rose to a 52-week high after clearance was granted by the Ministry of Environment and Tourism of the Republic of Namibia for the proposed recommissioning of the mine.
North River Resources gets environmental clearance in Namibia

Shares in North River Resources (LON:NRRP) headed north at a rate of knots after the company received environmental clearance for its Namib lead zinc mine.

Shares rose to a 52-week high of 0.918p, up 26.6% on the day, after the company said clearance was granted by the Ministry of Environment and Tourism of the Republic of Namibia for the proposed recommissioning of the mine.

The company has been in talks with consultants about elevating its mine development plan (MDP), released on 30 June 2014, to a full feasibility study (FS).

North River said that process will involve a new resource estimate plus verification and mine design work.

The company has also commissioned a magnetic separation study, and lock-cycle testing from a diversified sample of recently-drilled core, to optimise the metallurgy of the project.

Martin French, managing director of North River Resources said: "Environmental clearance is a major milestone, and is a prerequisite for the granting of a mining licence for Namib. Detailed implementation planning and site preparation is also underway at Namib. Site offices are being installed and heavy equipment procurement is being evaluated."

View full NRRP profile View Profile

North River Resources plc. Timeline

Related Articles

picture of gold and dollars
June 27 2017
“We believe the planned development of the Miraflores gold mine will provide the backbone for transforming the company"
Asiamet
February 07 2018
Asiamet's house broker Optiva has doubled its price target to 19p

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use