Business
Declaration of Urgent Occupation - Approved
Declaration of Urgent Occupation - Approved.
About this update from Ormonde Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4131C Ormonde Mining PLC 28 June 2016 \n\n28 June 2016\n\n \n \n \nOrmonde Mining plc\n(\"Ormonde\" or \"the Company\")\n \n\n\n\n \nDeclaration of Urgent Occupation - Approved\n \nThe Board of Ormonde is pleased to provide the following update on the Barruecopardo Project in Salamanca, Spain (\"Barruecopardo\" or the \"Project\"). This update follows the recent announcement regarding the land acquisition process and optimised construction schedule which the Project operating company, Saloro SLU (\"Saloro\"), is advancing. \n \n \nHIGHLIGHTS\n \n· A Declaration of Urgent Occupation (\"Declaration\") relating to the land blocks for which Saloro has requested compulsory purchase, has been approved by the Regional Government of Castilla y Leon (\"Regional Government\"). This legal declaration represents the completion of the main legal pre-requisite required to allow for immediate access to, and use of, the lands without having to await the completion of the compulsory purchase process. \n \n· The Declaration had been requested by Saloro as part of its application for compulsory purchase of certain land blocks, submitted in March 2015. \n \n· The Declaration has been approved and awarded well ahead of the date required by the optimised construction schedule - reducing any related residual risk associated with achieving the updated schedule.\n \n· Some procedural and legal steps remain prior to actual access to these land blocks, with the current guidance on commissioning for the Project in late 2017 remaining valid, though now substantially de-risked with respect to timing.\n \n \n \nSteve Nicol, Ormonde's Managing Director, commented:\n \n\"The decision by the Regional Government to vote in favour of the Declaration of Urgent Occupation on the remaining lands required to enable development of the Project, is a major success for the Company. The decision, coming well ahead of the date required by our optimised schedule, shows the level of support that exists for the Project at all levels within the Spanish region in which we operate. \n \nThe Company would like to thank the Regional Government for its supp...