Wishbone Gold PLC (LON:WSBN) saw its shares soar higher on Wednesday after the firm revealed that its Honduran partners, Sion Honduras SA has received a licence to operate the plant and equipment on the first Honduran mining and processing site under the joint venture announced on 31 March 2017.
The AIM-listed gold trading and exploration company said the site was set up to provide artisanal miners with the correct equipment to process gold bearing ore and it will significantly boost the recovery of gold for the miners in the region and also eliminate the use of mercury which can be harmful to people and the environment.
It noted that the project was initially delayed by the weather and then due to licensing issues, which Sion Honduras SA were in charge of obtaining.
With all that now completed, Wishbone Gold said it will accelerate production over the coming months and expects to be shipping product to Dubai in the first quarter of next year.
Wishbone Gold’s chairman Richard Poulden said: "I am pleased that our first plant is licensed and starting production. We are looking forward to producing gold and starting other sites in the future."
In late afternoon trading, Wishbone Gold was the London market's top gainer, with its shares up 60% to 0.16p.
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