Viceroy’s original operation plan was based upon an environmental assessment finding that the project would have no significant impact on the environment. But an appeal was filed and Viceroy asked that approval of the assessment be remanded. Instead, it opted for a more comprehensive environmental impact statement/report.
Additional field studies and public meetings were held over the next 12 months and a draft report was prepared which concluded Castle Mountain would have no significant adverse impact on the environment. More than 500 copies of the report and dozens of summaries were circulated to interested agencies and citizens. The public had the opportunity to respond to the draft report and Viceroy said it would include their “substantive concerns” in the final report to regulatory authorities.
Ross Fitzpatrick, Viceroy’s president, said his company “accepts the responsibility to manage the desert resources in an environmentally sensitive manner,” and he felt the Castle Mountain mine will be a better project because of the extra time taken to placate environmental concerns.
He argued that most residents in the area supported the project which will create 150 full-time jobs and pump $25 million into the local economy.
As of Mar 31, Viceroy had cash and short-term investments totaling $24.7 million and is a major shareholder in Hemlo Gold Mines (TSE) which will make financing the project possible. Once approval is received, mine construction should take about seven months and the facilities will be capable of handling 8,000 tons of ore per day. In the first five years of production, reserves are expected to average about 0.058 oz gold per ton.
It’s been a long haul obtaining permits for Viceroy Resource Corp.’s (TSE) Castle Mountain project which was supposed to be in production over a year ago. But if all goes according to plan, the mine should be permitted by September after which construction can begin.
California isn’t the easiest place to permit a mine, given its strict regulatory climate and strong environmental lobby, but the delays associated with Castle Mountain have been particularly frustrating.
Viceroy’s original operation plan was based upon an environmental assessment finding that the project would have no significant impact on the environment. But an appeal was filed by environmentalists and Viceroy asked that approval of the assessment be remanded. Instead, it opted for a more comprehensive environmental impact statement/ report.
Additional field studies and public meetings were held over the next 12 months and a draft report was prepared which concluded Castle Mountain would have no significant adverse impact on the environment. More than 500 copies of the report and dozens of summaries were circulated to interested agencies and citizens. The public had the opportunity to respond to the draft report and Viceroy said it would include their “substantive concerns” in the final report to regulatory authorities.
Ross Fitzpatrick, Viceroy’s president, said his company “accepts the responsibility to manage the desert resources in an environmentally sensitive manner,” and he felt the Castle Mountain mine will be a better project because of the extra time taken to placate environmental concerns.
He argued that most residents in the area supported the project which will create 150 full-time jobs and pump $25 million into the local economy.
As of Mar 31, Viceroy had cash and short-term investments totaling $24.7 million. In addition, Hemlo Gold Mines (TSE) is a major shareholder of Viceroy making financing the project possible. Once approval is received, mine construction should take about seven months and the facilities will be capable of handling 8,000 tons of ore per day. In the first five years of production, reserves are expected to average about 0.058 oz gold per ton.
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