Galantas Gold Corporation (LON:GAL) (TSXV:GAL) saw its shares jump today after it announced a positive outcome to a Judicial Review into the planning consent for underground development at its wholly-owned Omagh Gold Mine in Northern Ireland.
The AIM-listed firm said a third party's request for quashing the planning consent decision was denied following the Judicial Review in Belfast High Court.
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The consent was granted in July 2015 following an exhaustive study and examination by the Department of Environment Northern Ireland (DOENI). It permitted the underground mining of gold veins that were recently worked in upper levels within an open pit.
Roland Phelps, Galantas Gold’s president & CEO said, "It is important to note the Company's excellent past environmental performance.
“The processing plant uses a non-toxic, froth-flotation process to produce gold concentrate which is exported via Belfast to a well-regulated Canadian smelter. No Cyanide or Mercury is used. Regular water monitoring demonstrates compliance with regulatory standards and there is no acid rock drainage at the site.”
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He added: ”Underground development is underway and the Company has a detailed plan to accelerate progress, in line with the confirmed Consent. The plan includes additional employment opportunities locally and we will make further announcements in due course."
Galantas shares, which were suspended from trading on AIM this morning pending the review outcome, were up 12.2%, or 0.6p higher to 5.75p in late afternoon trading, albeit below a peak of 7.00p hit following restoration after the news release.
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