Troy gets green light for Karouni

Perth-based gold producer Troy Resources has received an environmental permit for the construction and operation of its Karouni gold project in Guyana.

The permit, which was awarded by the Environmental Protection Agency, is valid for five years and is an essential requirement for approval of a mining licence.

“This is another important milestone in the development of Karouni and represents a significant achievement in terms of the constructive working relationship between the authorities in Guyana and Troy’s local management team,” chief executive Martin Purvis said.

“Karouni is now gathering momentum in terms of activity on the ground and mobilisation of a skilled local workforce.”

In a statement, the company said Karouni remains on track to begin operations during the second quarter.

Troy’s share price was 10.9 per cent higher at 61 cents per share at 10am.