Oromin Explorations Ltd. announced that the Environmental and Social Impact Assessment was approved by the final on-site public consultation held on March 8, 2012.
This is the last step of the ESIA approval process prior to the grant of the Certificate of Conformance for the ESIA which is expected to be delivered to OJVG by the end of March following formal signing from the various Government Ministries.
Further to its news release dated December 7, 2011, Oromin is continuing to work with its OJVG partners to assess development, financing and strategic alternatives towards maximizing project value, including discussions with various parties that could lead to a potential acquisition of Oromin.
The OJVG Gold Project is an advanced stage, low risk construction-ready project with numerous options for development and further resource enhancement. A 15-year renewable mining license was granted by the Government of Sénégal in January 2010. A positive feasibility study was completed in mid 2010 by SRK. This was followed by significant project enhancements including: a positive preliminary economic assessment of heap leach potential and resource update announced in May 2011; subsequent expansion of various deposits; and the announcement of new gold discoveries outlined by continued drilling through to December 2011. Oromin believes that the post feasibility study work by OJVG will add considerable project value through increases in open pit and underground mining potential and an extended mine life. Accordingly, OJVG has initiated a 2012 update for the feasibility study to take into account all 2010 and 2011 drilling completed after the January 2010 data cut-off date used for the original 2010 study.