Update on Chatree Gold Mine Metallurgical Licence
Kingsgate Consolidated’s (ASX:KCN) (“Kingsgate” or the “Company”) Thai controlled subsidiary, Akara Resources Public Company Limited (“Akara”), will today submit an application for a 5 year renewal of the Metallurgical Licence for the Chatree Gold Mine. This renewal application follows an announcement by the Thai Government in May 2016, to only extend Akara’s Metallurgical Licence until 31 December 2016. Lodgement of a renewal application for the Metallurgical Licence is required to be made by 60 days prior to its expiration under Thai Law. There can be no assurance that such an application will be successful. Kingsgate continues to push for remedies to the premature closure of the Chatree Gold Mine.
In addition, Akara has also released a Community Survey taken across approximately 1,800 households in the vicinity of the mine that was undertaken in accordance with the Thai Department of Primary Industries and Mines “Social Licence to Operate” guidelines. The Community Survey reported a high satisfaction rate with the Chatree Gold Mine and its operations.
Chief Executive Officer
Kingsgate Consolidated Limited