Business
Licence renewal 22nd January 2018
Licence renewal 22nd January 2018.
About this update from Sstartrade Tech, Inc.
[{"type":"text","content":"In order to operate in the assigned territory, companies must obtain a licence that allows survey work and mining operations.Favorit-Centre LLC (for 100% subsidiary company of the SStarTrade SA company) is, at the moment, completing the renewal of licence ChIT 01747 BE as required by the update procedures defined by Russian legislation.Once concluded, this procedure will allow:to change the main conditions of the Licence agreement,to modify contours and licence area taking into account the geological data received by Favorit-Centre LLC in 2016-2017,to identify the most attractive sites for further additional exploration and subsequent gold mining.Russian law now defines a maximum territorial extension per licence at 100 Square Kilometres.This means the issue of three separate licences (license areas of “Kadara”, \"Kaltagay\" and “Doptugan”) covering a total extension of 237 sq.km in total, up from the 184 originally covered.These licences shall replace the single licence held up to now.The current survey evaluation for Favorit-Centre LLC of the cumulative resource base, for all three licence areas, sums up to 256 tons of resources of P2 gold (forecast), of which - 46 tons of gold holdings of C2 (measured).Favorit-Centre LLC shall complete the procedure of updating and obtaining the new licenses by late January - early February 2018.","length":1489,"tagName":"div"}]