Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Foran Mining (TSX: FOM) reports ministerial approval for its McIlvenna Bay project under the Environmental Assessment Act (Sask.). This marks the end of the environmental impact assessment process for the project, marking a critical permitting milestone on the way to full development.
The McIlvenna Bay copper-zinc-gold-silver project has a projected 18-year mine life, over which it could produce 65 million lb. of copper-equivalent annually, according to the company’s 2022 feasibility study.
Dan Myerson, Foran’s executive chairman and CEO, said the approval “speaks volumes about the importance of the collaborative work done … with local communities and Indigenous peoples throughout the process.”
With the ministerial approval in hand, Foran will continue with detailed engineering, procuring mining and processing equipment, installation of a permanent camp, and the continuation of advanced exploration as the company prepares and reviews the project control budget in advance of full development.
