Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) announced that the renewal application for its Kazhiba Licence, previously thought to have been rejected, was actually deferred and remains in good standing.
In a news release dated August 29, 2024, Midnight Sun corrected earlier misinformation that had circulated in an online public notice dated June 17, 2024, which incorrectly indicated that the renewal application had been rejected. The Mining Cadastre Portal has been updated to reflect the accurate status of the Licence.
The Zambian Ministry of Mines and Minerals Development has informed Midnight Sun that the decision on the Licence renewal application will be deferred to a later meeting of the Mineral Licensing Committee. This means that the Licence, as outlined in the company’s renewal application, is still valid.
Midnight Sun CEO, Al Fabbro, expressed relief and optimism about the development.
“As a component of the Cooperative Exploration Plan with our neighbors, First Quantum Minerals (TSX:FM), our Kazhiba Target represents an exciting opportunity for Midnight Sun to enter near-term production,” Fabbro said in a statement.
“We are tremendously pleased that this licence issue was able to be rectified quickly and did not create significant disruption to the execution or timing of our plans.”
Midnight Sun Mining’s clarification allows the company to move forward with its exploration activities as planned, ensuring that its projects continue without significant delay.