Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Treasury Metals Says EIS Submission Targeted For Q4 0 comments
    May 15, 2013 12:40 PM

    Treasury Metals (TSE:TML) provided its investors Tuesday with an operational update of its Goliath gold project in northwestern Ontario, saying it continues to work on submitting its environmental impact statement (NYSEARCA:EIS) for the property by the fourth quarter of this year.

    The company is also advancing the project in support of a feasibility study for the mine.

    Treasury said it has received proposals from "several mining and environmental consulting firms" to prepare both the EIS and feasibility study.

    Last year, the company submitted its project description for Goliath to the Canadian Environmental Assessment Agency, and received its guidelines for the environmental impact statement - a major permitting milestone - in February.

    The company has so far completed a gap analysis of the environmental baseline data collection programs on the Goliath project, which highlights any additional data it may need for the EIS submission.

    Hydrogeology studies have also been completed, while geochemnical testing work of various rock types and geotechnical studies are ongoing, Treasury said.

    The company also said Tuesday that it has started the process with the Ontario Ministry of Northern Development and Mines to bring to mine lease any exploration claims critical to the project.

    Earlier this month, Treasury closed the final tranche of a non-brokered private placement financing, raising a total of $1.78 million in the offering for the advancement of its Goliath gold project.

    The funds will be used specifically for the completion of an environmental impact statement at the project, as well as for general working capital needs.

    Treasury is advancing its 1.7 million gold equivalent-ounce Goliath project that boasts near-term production potential, with the company forecasting production start-up in late 2015, with average annual life-of-mine output of around 80,000 gold equivalent ounces at cash costs of $698 an ounce.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.