Ximen Mining Corp (TSX-V:XIM, OTCQB:XXMMF) said it is inching closer to permitting its Kenville Gold Mine project after receiving a request for additional security bonding from the Ministry of Energy, Mines and Low-Carbon Innovation (EMLI) in British Columbia.
The Vancouver-based company said it had received a letter from the regulatory body formally requesting additional reclamation security bonding of $83,000, bringing the total security amount held to $103,800.
As Ximen explained in a statement, reclamation bonding is the final step before the Mines Act permit is granted. The request for security signifies that permitting is “finally close-in-hand,” it told shareholders.
Ximen added it will be active “as soon as the snow melts” to build water management infrastructure. The firm will break ground “within months” to start the mine project, it added.
"We are pleased to have received the request to post additional reclamation security bonding for the Kenville Gold Mine project, as this signifies that permitting is finally close at hand,” CEO Christopher Anderson said in a statement.
“We are committed to fulfilling our reclamation obligations and look forward to moving forward with the project as soon as possible.”
A former permit on the property will be closed and all outstanding reclamation liability rolled into a single Mines Act Permit, Ximen told shareholders.
The Kenville Gold mine near Nelson, British Columbia, comes with surface and underground rights, buildings and equipment.
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