28th Jun 2016 12:53
LONDON (Alliance News) - Ormonde Mining PLC said a regional government in Spain decided to vote in favour of its declaration of urgent occupation of land blocks required to enable the development of its Barruecopardo tungsten project in Salamanca.
Ormonde said the decision by the Castilla y Leon regional government was a "major success" for the company and represents the main legal pre-requisite required to allow for immediate access to, and use of, the lands without having to wait for the completion of a compulsory purchase process.
"The decision by the regional government to vote in favour of the declaration of urgent occupation on the remaining lands required to enable development of the project, is a major success for the company. The decision, coming well ahead of the date required by our optimised schedule, shows the level of support that exists for the project at all levels within the Spanish region in which we operate," said Managing Director Steve Nicol said.
Shares in Ormonde were up 8.6% at 1.33 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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