- Rise Gold Corp. (RISE) has provided an update regarding its Idaho-Maryland Project use permit
- The Nevada County Board of Supervisors recently conducted an independent economic study for the proposed project
- The study showed the project may provide around 475 new local jobs and $45.3 million per year in new local labour income
- Three key milestones remain to be completed for the use permit application process
- Public hearings and responses for the permit are anticipated to be done during the first quarter of 2023
- Rise Gold Corp. (RISE) is down 4.76 per cent and is trading at $0.40 per share as of 10:52 a.m. EST
Rise Gold Corp. (RISE) has provided a progress update regarding its Idaho-Maryland Project use permit.
The company’s submission of an application for a use permit from Nevada County requires information regarding planned throughput and material quantities.
According to Rise Gold, the Nevada County Board of Supervisors recently conducted an independent economic study for the company’s proposed Idaho-Maryland mine project.
The study highlighted the past gold-producing Idaho-Maryland Mine Project has the potential to provide approximately 475 new local jobs and $45.3 million per year in new local labour income.
The estimated annual local tax revenue from the project would be roughly $1.4 million to $6.4 million per year, which would make the mine one of the largest taxpayers in the county.
However, the company has not completed a feasibility study to establish mineral reserves and therefore has not demonstrated the economic viability of the project.
Three key milestones now remain to be completed for the use permit application process. Rise Gold expects the process’ timeline to depend on the county’s final environmental impact report, which is due to be published by the end of this year.
Public hearings and responses for the permit are anticipated to be done during the first quarter of 2023.
Rise Gold Corp. (RISE) is down 4.76 per cent and is trading at $0.40 per share as of 10:52 a.m. EST.