Great News for Argonaut Gold! Argonaut Gold Announces the Collegiate Tribunal Has Ruled to Reinstate the Explosives Permit at the La Colorada Mine
CNW Group
Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce that the Collegiate Tribunal (an arm of the State Supreme court that is tasked with overseeing the Judiciary court) has unanimously ruled to lift the suspension of the explosives permit at the La Colorada mine (see press releases dated April 12, 2018, April 17, 2018, April 27, 2018, May 17, 2018 and June 5, 2018). The ruling directs that the Secretary of National Defense ("SEDENA") reinstate the explosives permit.
SEDENA was immediately informed of the ruling and it is expected that SEDENA will reinstate the explosives permit imminently. Once SEDENA officially reinstates the explosive permit, the Company will be able to resume blasting operations. It is anticipated that ramp up of full operations will be re-established by approximately mid-July.
With this successful appeal, the Company will now have the ability to continue full operations during the balance of the Judiciary legal process. The Company is encouraged by the Collegiate Tribunal's ruling and continues to believe the legal action brought against SEDENA and the Municipality of La Colorada is without merit.
During the suspension, the Company continued to operate at the budgeted production rate of 12,000 tonnes per day with free-dig material in the pit and low-grade ore stockpiles.