March 27 (SeeNews) - Canada's Euro Sun Mining said on Friday that the COVID-19 pandemic might affect its plans to obtain the construction permit and feasibility study for the advancement of its Rovina Valley project in Romania in 2020.
"The current global COVID-19 crisis may have an impact on timing that currently is hard to predict, but we are confident that any delays may be minimal. These deliverables are significant risk reduction events for Euro Sun and should have a materially positive effect on the company," Euro Sun said in a press release.
In order to advance to the construction phase there are two certificates required, the area land use plan and the project technical design, both from the county council of Hunedoara
The second key deliverable for 2020 will be the completion of a definitive feasibility study for the Rovina Valley Project. The project will include the Rovina open pit sequentially to the Colnic pit in the life-of-mine plan. This will result in a significantly more production of both gold and copper and a longer mine life without affecting initial capital expenditures, the company said.
Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania. The property hosts 10.11 million ounces of gold equivalent.