Georgian Mining using time 'constructively' while it waits for permits

Georgian Mining Corporation updated the market on the progress of technical work being carried out on the Kvemo Bolnisi East gold-copper project on Friday, in preparation for resource infill and development drilling, infrastructure sterilisation drilling, and commencement of the feasibility study.

The AIM-traded company said that, while it was waiting for approvals for the exploration permits, its team in Bolnisi was using its time “constructively” to prepare for the work ahead.

It explained that the recent work had been updating pit optimisations at KBE, and developing new concepts for layouts of surface facilities and haulage routes to the processing facilities at the neighbouring operations.

Those had all been done internally, and were described as “particularly interesting” as the firm was now starting to see what the future KBE operation would actually look like.

All of that was also contributing to the future work programme, the directors explained.

“In respect of the exploration permits, the company has recently held meetings at senior levels with government to highlight our application and the urgency to have this resolved,” said chief executive officer Mike Struthers.

“Given the excellent support that we have in government circles for the company and our application, we remain very confident that we'll get the positive news we are seeking and will be able to re-start work soon.

“I want to thank our existing shareholders for their considerable patience while we strive to resolve this situation.”