Waddy Lake Resources, a wholly owned unit of Golden Rule Resources (GNU-T), will apply for a temporary closure permit for the Komis gold mine in Saskatchewan.
Operations were suspended earlier this year after the mine failed to live up to expectations. Golden Rule says the mine’s economics were altered by low gold prices, a revised reserve calculation and an assessment of the cost of developing these reserves.
Underground mining is expected to end in late March, with milling operations continuing until June. In the meantime, the company says it intends to review offers from mining companies interested in buying the operation.
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