Reunion Gold secures mineral agreement in Guyana for Oko West Project
Reunion Gold Corporation, listed on TSX Venture Exchange under the ticker RGD and on the OTCQX under the ticker RGDFF, has announced a landmark agreement that will significantly boost the development of the Oko West gold project. The agreement, signed with the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission, grants Reunion Gold and its wholly-owned Guyanese subsidiary stable fiscal and operating conditions throughout the project’s lifespan.
Rick Howes, President and CEO of Reunion Gold, expressed his satisfaction with the agreement, noting it as a critical de-risking step for the project. “I am pleased to have executed our Mineral Agreement with the Government of Guyana. This significant milestone marks an important de-risking step towards the development of the Oko West Project and underscores the robust support extended by the Government of Guyana towards the project’s development,” said Howes.
As part of its commitment to the region, Reunion Gold has pledged to prioritize hiring qualified Guyanese individuals and to implement comprehensive training programs to enhance local skill sets. This initiative aims to foster sustainable development and ensure the integration of Guyanese personnel at all operational levels. Moreover, the company has committed to a robust financial support program, pledging US$1,000,000 annually towards environmental sustainability and social projects in surrounding communities. This funding is set to begin upon the commencement of commercial production or within 24 months from the issuance of a mining license, whichever comes first.
The initiatives outlined in the agreement highlight Reunion Gold’s dedication to sustainable mining practices that minimize environmental impacts and generate positive outcomes for local communities. The company’s approach not only addresses immediate project needs but also contributes to the broader goal of creating lasting benefits for the people of Guyana.
Reunion Gold is actively progressing with development studies to push the Oko West project toward a definitive construction decision. The company expects to complete a preliminary economic assessment by mid-2024, which will detail key economic parameters essential for further development planning.
This agreement is a strategic maneuver that not only stabilizes the operational framework for Reunion Gold but also strengthens its commitment to environmental stewardship and social responsibility. By aligning its operations with the needs and regulations of the Guyanese government, Reunion Gold sets a precedent for mining companies looking to operate in harmony with local communities and ecosystems.