Minco Silver has made great progress in regaining the support of local communities to develop its Fuwan Silver Project in Guangdong province. Prior to resubmitting the revised Environmental Impact Assessment report to the Chinese Environmental Protection Authority for approval, the company is required to complete an extensive public survey among the local communities.
The survey concerning development of the project has been completed over the past few months and the vast majority of local communities support the project and look forward to its early development.
In addition, the company has had productive communication with the Zhaoqian District and Gaoyao County governments. As a result, the Gaoyao County government has recently issued an official approval of the development of the project, subject to receipt of the mining licence by Foshan Minco Mining Co, the operating company for the project.
The company has initiated a program to reduce expenditures in order to preserve its cash. Accordingly, the consulting agreement with VP Corporate Communications Ute Koessler has been terminated. The company wishes to thank Ute Koessler for her efforts and contributions to the company, and wishes her the best in her future endeavours.
Minco Silver is a TSX and OTCQX listed company focusing on the acquisition and development of silver dominant projects. The company owns a 90% interest in the world-class Fuwan silver deposit.