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TriStar Gold Inc. (TSGZF) is an exploration and development company focused on precious metals properties in the Americas with a current flagship property, Castelo de Sonhos in Pará State, Brazil. The company recently closed its non-brokered private placement, raising significant gross proceeds. TriStar has obtained significant approvals, including the Preliminary License (LP) and Environmental Impact Assessment (EIA) for the Castelo de Sonhos project, marking a milestone achievement for the company's future growth. The company aims to unlock shareholder value through sustainable development and strategic initiatives.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has acknowledged recommendations from a Federal Public Prosecutor regarding the recently issued Preliminary License (LP) for the Castelo de Sonhos gold project in Brazil. These non-binding recommendations, directed at various government regulators, suggest suspending the LP pending additional archaeological and Indigenous Component Studies.
The company is confident in the comprehensive process used to obtain the LP, citing strong stakeholder support evidenced at a well-attended and positive public hearing in 2023. TriStar is addressing the concerns raised and is in contact with relevant authorities. The company believes that some of the MPF's technical concerns are already addressed in the LP's conditions.
CEO Nick Appleyard stated that while these concerns could have been discussed earlier, the company remains confident in the robustness of their Environmental Impact Assessment and the project's potential benefits to the community. TriStar is cooperating with all parties to resolve concerns quickly.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has received the Licença Prévia (Preliminary License or LP) for its Castelo de Sonhos gold project in Brazil from the Pará Secretariat for the Environment and Sustainability (SEMAS). This milestone significantly derisks the project and positions TriStar for advancement to the feasibility study stage. The LP, the first of a three-stage environmental licensing process, is important as it involves approval from various government agencies and stakeholders.
CEO Nick Appleyard views Castelo de Sonhos as potentially the next 100,000+ ounce per year gold mine in Brazil. The company plans to proceed with de-risking studies, including feasibility and advanced engineering, leading to a construction development decision. TriStar will host a webinar on September 5th to discuss this development. Additionally, the company has granted 3,250,000 incentive stock options to directors, officers, employees, and consultants at $0.195 per share, expiring on August 28, 2029.
TriStar Gold (TSGZF) announced that the Pará State Environmental Council (COEMA) approved the Preliminary License (LP) and Environmental Impact Assessment (EIA) for its Castelo de Sonhos gold project in Brazil on June 11, 2024. The final issuance of the LP awaits internal processes by the Secretariat for the Environment and Sustainability (SEMAS). The approval was unanimous and follows extensive efforts by TriStar's team and support from various local organizations.
CEO Nick Appleyard praised the team and highlighted the project's potential to unlock shareholder value, alongside their commitment to sustainable development in the region. TriStar's shares trade on the TSX Venture Exchange (TSG) and OTCQB (TSGZF).
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