Proactive Investors - Run By Investors For Investors

Wishbone Gold soars as Honduran partner receives license to operate plant and equipment on first mining and processing joint venture site

With licensing completed, Wishbone Gold said it will accelerate production over the coming months and expects to be shipping to Dubai in the first quarter of next year
Gold
The project was initially delayed by the weather and then due to licensing issues, which Sion Honduras were in charge of obtaining

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 license 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.

READ: Wishbone Gold hampered by Honduras permit delays, eyes expansion into Zimbabwe

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.

 -- Adds share price --

View full WSBN profile View Profile

Wishbone Gold PLC Timeline

Related Articles

Mark Wilson and Mark Creasy with a Nova-Bollinger core sample Creasy showed Wilson, telling him, ‘There’s what you’re looking for, now go find it’
February 20 2019
A Creasy team will move to Rockford next as exploration resumes.
1548107930_757z468_1547086607_strick.JPG
January 21 2019
The company hopes to establish a nickel development on Cathedrals Belt, an exploration area it majority owns.
1553096936_W-Resources---Michael-Masterman.jpg
March 21 2019
W Resources is about to make a name for itself as a serious European-based supplier of tungsten

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use