Junior corporate roundup: Lundin Gold, Alset, GoldQuest

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Friday, October 14, 2016

The government of Ecuador approved an environmental impact study for Lundin Gold's flagship Fruta del Norte project.

Lundin said the next, and final, step involves the granting of an environmental license, a procedural process expected to be completed in the next few weeks, the firm said in a statement.

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Lundin Gold has a mine development contract out to tender with a selected group of prequalified bidders. The contract will cover mine portal construction and over 6,000m of development. It is expected to be awarded in January 2017 and construction is due to start around May 2017.

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Alset Energy closed the first tranche of a previously announced non-brokered private placement of units, for gross proceeds of Cdn$207,940 (US$157,937), to be used to complete all previous planned work at its lithium brine and clay projects in Mexico, according to a press release.

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Vancouver's GoldQuest Mining appointed David Massola as VP of corporate development, effective immediately. He will be directly responsible for project and corporate financing of the company and its Romero project in the Dominican Republic, a statement said.