Southern Gold Ltd (ASX:SAU) and its development partner in South Korea, Bluebird Merchant Ventures Ltd (LON:BMV), are continuing to progress the Gubong and Kochang gold projects under their 50/50 joint venture.
Gubong Project JV
The joint venture has received initial feedback on its Permit to Develop application from the local government authorities.
The process has now moved to the next stage where the application is to be considered by an administrative panel at the central government level.
This next stage of the process is expected to occur during August on a specific date yet to be determined.
Kochang Project JV
The Kochang Project Permit to Develop application is still in process.
Bluebird has reported a delay in the process due to a change in the Counter Measure Against Natural Disasters Act (CMANDA) which has resulted in a new proclamation that is currently being distributed to all government departments.
This recent clarification of the CMANDA will enable the Permit to Develop application to proceed to the next stage.
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Bluebird has also advised that the recently revealed funding support from Korea Resources Corporation (KORES) for drilling at Kochang has been put on hold pending the grant of the ‘Permit to Develop’ as outlined above.