Thai Government Clarifies its Position
Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) advises that the Government of Thailand has clarified its position that all operations will cease at the Chatree Gold Mine (“Chatree”) as from 1 January 2017.
The Thai government has issued an Order under Section 44 of the Thai Constitution which is, amongst other things, to the following effect:
- Persons authorised to issue metallurgical processing licences, concessions and permits are required to suspend permission for all gold mine exploration and operations, as well as the renewal of gold mine concessional and metallurgical processing licences until the Committee on National Mineral Management (“Committee”) resolves otherwise; and
- Business operators holding concessions and licences relating to gold mining operations are required to suspend their business from 1 January 2017, until the Committee resolves otherwise
Kingsgate’s wholly-owned subsidiary, Akara Resources Public Company Limited, has been contacted by the Office of the Prime Minister of Thailand to arrange a meeting for next week with the Deputy Prime Minister.
However, Chatree will be placed on Care and Maintenance at the end of this month.
Chief Executive Officer
Kingsgate Consolidated Limited