Midas Gold’s project review period extended

30.9.2020, 19:45 - eeppo

The public comment period on Midas Gold’s (TSX: MAX) draft environmental impact statement (EIS) for the Stibnite gold project in Idaho has been extended by an additional 15 days and will now close on October 28.

The US Forest Service (USFS) previously set the time period for interested parties to submit feedback on the draft EIS for 60 days. The public review period is legally required to be 45 days.

“Public involvement has always been an important tenet of the Stibnite gold project. The public was integral to helping us develop Alternative 2 of the draft EIS and we believe public feedback is important in helping develop the final plan for the Stibnite gold project,” Laurel Sayer, CEO of Midas Gold Idaho, commented in a press release.

“The agency’s decision to extend the comment period by an additional 15 days provides the public and other interested parties more time to participate and should ultimately support a robust record of decision. However, given the amount of public disclosure on the project over many years, it is also time to move to the next stage of finalizing the EIS and selecting a preferred alternative,” she added.

The project is located Stibnite-Yellow Pine district of central Idaho, where Midas is currently focused on the exploration and, if warranted, redevelopment of the gold-antimony-silver deposits in region.

For nearly a decade, the company has encouraged public review of and engagement in its plans for the restoration of the Stibnite mining district. If developed, the Stibnite project would be a $1 billion construction investment, providing 500 direct jobs, Midas said.

Last month, the company received significant backing from New York-based investment firm Paulson & Co., which bolstered its holdings in the gold miner from 3.5% to over 44.1%. Barrick, the world’s second-largest gold miner, also has a 20% stake in the Stibnite project owner.