Business
Western Copper and Gold Provides Casino Update and Reports Year-End Results
VANCOUVER, BC--(Marketwired - March 28, 2016) - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE MKT: WRN) has released its fin
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - March 28, 2016) - Western Copper and Gold Corporation (\"Western\" or the \"Company\") (TSX: WRN) (NYSE MKT: WRN) has released its financial results for the year ended December 31, 2015. This news release should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2015, and the notes thereto, and management's discussion and analysis (\"MD&A\") for the year ended December 31, 2015. All figures in Canadian dollars (\"$\"). \"I am very pleased that our prudent financial management has resulted in Western starting 2016 with over $10 million in cash in what have been challenging markets,\" said Dr. Paul West-Sells, President and Chief Executive Officer, \"The Casino project is one of the few world-class copper-gold projects that has remained economic through this most recent downturn in the markets, and we are well positioned to continue to advance this project in 2016.\" CASINO PROJECT Western continued to advance the Casino Project in 2015. Western submitted the Casino Project Proposal (the \"Project Proposal\") to the Yukon Environmental and Socio-economic Assessment Board (\"YESAB\") for assessment in January 2014. Throughout 2015, the Company submitted two supplemental information reports to YESAB. At this point, the total application submitted represents over 14,000 pages of information and over three years of engagement with regulatory agencies and Federal, Territorial and First Nation Governments. On February 18, 2016, the YESAB Executive Committee informed the Company that it is requiring that the Casino Project be reviewed by a panel (the \"Panel Review\"), the highest level of assessment carried out by YESAB. The first step in the process is for YESAB to provide Western with a list of required information through the release of the Environmental and Socio-Economic (\"ESE\") Guidelines. Western expects to receive the ESE Guidelines in mid-2016. Western will continue work with Federal, Territorial and First Nation governments, as well as regulatory agencies to advance the project through the Panel Review process in 2016. 2015 FINANCIAL RESULTS The scale and nature of the Company's corporate and administrative activity have remained relatively consistent over the last two years. For the year ended Decembe...