RE:RE:News in spanish (PDAC 2014)This is google's transalation
Toronto's Sulliden Gold ( TSX , BVL : SUE , Pink Sheets: SDDDF ) expects to start construction of its gold and silver project Deus Shahuindo $ 132mn in Peru within the current year , subject to approval of permits and the acquisition land , said the manager of investor relations , Caroline Arsenault .
The company plans to apply for a building permit in mid-March and expects to receive approval by mid-year , in conjunction with the final permits that would allow the start of construction in the second half , Arsenault said during the 2014 conference of the association PDAC in Toronto .
Sulliden is also underway to acquire 100ha of land you need to install the mine, which should occur before the building permit is received, he added. These are in addition to the 2,000 ha already bought
The company also aims to provide the final financing for the project before the permit is received . In October, the company closed a financing agreement for $ 40.1 mn and is in talks with several potential financiers to cover outstanding costs.
The company also plans to complete the construction of a 150MW power substation , which will deliver power to local communities , in addition to the mine by the end of the year.
EXTENSION
In the first phase of work , leave Shahuindo as a heap leach operation in the open with a processing capacity of 10.000t/dy will produce about 90,000 oz / y of gold .
However, once the initiative is in production , Sulliden plans to complete a second phase of expansion to a capacity of 30.000t/de boost production to 190,000 oz / a , for which it used the cash generated in the initial stage of exploitation.
Read more at https://www.stockhouse.com/companies/bullboard/t.sue/sulliden-gold-corporation-ltd#vy3eMPQzIO7FYjGm.99