US Gold Corp (NASDAQ:USAU) announced that its subsidiary, Gold King Corp., has received formal acceptance of its reclamation bond from the Wyoming Department of Environmental Quality (WDEQ).
The acceptance satisfies two of the three conditions tied to the Surface Gold Mine Permit, also known as the Mine Operating Permit, for the project.
The remaining condition, the Air Quality Permit, is expected shorty, with the submission deemed technically complete and undergoing final statutory reviews by the WDEQ Air Quality Division, according to the company.
“We remain on track to receive unconditional approval of the Mine Operating Plan in hand, around mid-year, as per prior guidance,” said George Bee, CEO of U.S. Gold.
Executive Chairman Luke Norman emphasized the significance of these advancements, stating, “The CK Gold Project continues to advance with the major permitting almost complete.
“An ideally located, fully permitted gold and copper project positioned to leverage rising commodity prices is anticipated to be immensely accretive for our investors.”
The CK Gold Project, located in Wyoming, is a key asset for US Gold, aiming to capitalize on the rising demand for gold and copper.