In November 2018, the Mining License for the Rovina Valley Project was fully approved by six senior cabinet ministers and the Prime Minister of Romania, valid for 20 years plus renewals for 5 year increments.
This license secures the mineral tenure and allows the Company to begin the formal Environmental Impact Assessment and Urbanization Certificate, both of which are currently in progress.
In addition to key permitting activities, Euro Sun completed a Definitive Feasibility Study (DFS) in April 2021, outlining Rovina Valley’s robust economics and a full project outline towards construction. The study shows average gold-equivalent production of 146 000 oz/y in the first ten years, consisting of 10 000 oz of gold and 19-million pounds a year of copper at an average all-in sustaining cost of $790/gold-equivalent ounce with a mine life of 16.8 years.
The DFS is based solely on the development of the Colnic and Rovina deposits. Further development of the Ciresata resource could extend the life of the operation while using the same infrastructure and processing capabilities that would already be in operation.
Definitive Feasibility Study Completed April 14, 2021 outlining one of the most environmentally responsible new Copper/Gold mines globally utilizing ZERO CYANIDE and NO WET TAILINGS.
An updated Definitive Feasibility Study was completed 23 March 2022.
Full support of local communities, regional authorities and the National Government in Romania.
Life of Mine production of 1.35 Million ounces of gold and 400 million lbs of Copper over 16.8 Years.
Life of mine production of 1.1 Million tonnes of Clean Copper Concentrate