Haile Haile SEISore OceanaGold said the comment period and the review period are unlikely to result in a change to the SEIS. The company also expects the South Carolina Department of Health and Environmental Control and ACOE to issue the associated permits shortly after the record of decision is finalized.
The record of decision and permits are required to start underground development and expand operations to make room for potentially-acid-generating waste containment facilities, overburden facilities and an expanded tailings storage facility.
"The publishing of the SEIS is an important step towards finalizing this process and receiving the related operating permits that will allow commencement of the development of the underground mine, increase Haile's gold production and help unlock the full value of Haile," President and CEO Gerard Bond said.
Meanwhile, National Bank of Canada said it expects the Haile underground mine to begin production in the fourth quarter of 2023.
"Given the relatively higher than average open pit strip ratio at Haile vs. other open pit mines in our coverage universe, it makes a lot of sense to us to try to extract as much of the ore at Haile as possible from the underground as it would minimize the amount of waste rock generated," the bank said.
National Bank gave OceanaGold an outperform rating with a $3.50 price target.
Can't hurt. IMO