Violent protests in Burkina Faso that forced strongman Blaise Compaoré to resign his presidency in November after ruling the country for 27 years was just one of the uncertainties Roxgold (TSXV: ROG) faced in advancing its 100% owned Yaramoko gold project late last year.
The other was Credit Suisse’s move in late December not to make good on a previously committed US$37.5 million in project finance, following the Swiss bank’s decision over the summer to exit the commodities trading business after posting a huge loss in the second quarter – its biggest quarterly loss since 2008.
Things took a turn for the better, however, in the first month of the new year.
Burkina Faso’s interim government under current president Michel Kafando (the country’s former ambassador to the United Nations from 1998 to 2011) has approved the final permit and formalized that approval in a Mining Decree signed on Jan. 30 by himself, the prime minister, and the ministers of Mines, Finance and Environment.
Read the complete article at NorthernMiner.com/news/roxgold