Microsoft Word - 2016-01-19 Tarcoola Mineral Lease proposed terms and conditions received.doc
ASX and Media Release
Tarcoola Mineral Lease proposed terms and conditions received
WPG Resources Ltd (ASX: WPG, WPGO) is pleased to advise that proposed terms and conditions for the Tarcoola Mineral Lease (ML) have been received from the South Australian Department of State Development (DSD).
The Tarcoola gold project Mineral Lease Proposal (MLP) was lodged with DSD on 10 August 2015 and made available for public comment until 8 October 2015.
DSD has now provided draft lease terms and conditions which WPG will now evaluate and respond to within the coming weeks.
It is anticipated that the ML will be granted shortly thereafter.
WPG is well advanced with documentation for the Program for Environment Protection and Rehabilitation (PEPR) which will be lodged after the ML is granted. Once these submissions are approved WPG will be in a position to commit to project development at Tarcoola, subject to financing.
WPG will continue to work closely with DSD and other stakeholders throughout the PEPR approval process to facilitate the completion of the approvals process by mid- 2016, with mine construction and production targeted to commence soon thereafter.
Further Information
For further information please contact WPG's Managing Director & CEO, Martin Jacobsen or CFO Wayne Rossiter on (02) 9251 1044
19 January 2016