Integra Gold (ICG.V) has announced that the Canadian Environmental Assessment Agency (CEAA) has announced it doesn’t think an Environmental Assessment is needed to develop the Lamaque project. This isn’t really surprising as the Agency correctly states that the ultimate disturbance will be relatively limited compared to the total land package after the acquisition of the Sigma mill complex.
As expected, Integra Gold has now also abandoned the plan to reach the ore body at the Parallel Zone from surface, but will instead mine it through further underground development work starting at one of the extensions of the Sigma-Lamaque underground mine. This should shave off quite a few millions from the initial capital expenditures and could be a huge boost to Integra’s Net Present Value, as a lower initial capex has a much higher impact on an NPV calculation compared to a benefit further away in the future. This updated PEA is imminent and could once again put Integra Gold in the spotlights as the economics of the Lamaque project will undoubtedly improve.
> Click here to read the press release
Disclosure: The author holds a long position in Integra Gold. Integra is a sponsor of the website. Please see our disclaimer for current positions.
