- Nagambie Resources (NAG) and its proposed joint venture partner, Golden Camel Mining (GCM), are granted a planning permit by the Strathbogie Shire
- The permit is for a gold toll treatment plant at the Nagambie Gold Project in Victoria and will have an initial capacity of 180,000 tonnes of ore per annum
- The approval also covers the removal of vegetation and the construction
- Construction of the plant is expected to be commence in the December 2021 quarter and be completed in the June 2022 quarter
- Nagambie is up 16.4 per cent and trading at 7.8 cents per share
Nagambie Resources (NAG) and Golden Camel Mining (GCM) have been granted a planning permit for a gold toll treatment plant at the Nagambie mine in Victoria.
The approval is from the Strathbogie Shire and covers the removal of vegetation and the construction.
NAG and GCM are finalising a 50:50 joint venture agreement for the toll treatment plant.
The initial treatment plant will have a capacity of 180,000 tonnes of ore per annum.
Under the agreement, GCM will pay for all the construction and commissioning costs and future gold recovery improvements will be split paid between the companies.
Construction of the plant is expected to be commence in the December 2021 quarter and completed in the June 2022 quarter.
Nagambie was up 16.4 per cent, trading at 7.8 cents per share at 1:59 pm AEST.