Will they have to sell additional shares? ;-(
Borked Pseudo Mailed wrote:
> VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) - Great Basin
Gold
> Ltd. (TSX:GBG)(AMEX:GBN)(JSE:GBG) ("Great Basin Gold") announces that
the
> South African Department of Minerals and Energy ('DME') has approved an
> amended environmental management plan ('EMP') for the sinking of the
vertical
> shaft at its Burnstone development project.
> The amended EMP addresses the environmental management in respect to:
> 1. The original bulk sampling activities;
> 2. The sinking of a second outlet in the form of a vertical shaft that
will
> be used for safety only until the mining right application, submitted in
> September 2007, has been successfully processed and granted; and
> 3. The cru****ng of waste rock from the development of the prospecting
decline
> and the second outlet.
> In addition, the DME granted written approval for the taking of a bulk
sample
> in terms of Section 20 of the Mineral and Petroleum Resources
Development
> Act, 2002 ('MPDRA'), thereby substituting the current old order approval
that
> was granted in terms of the Minerals Act, 1991. The Section 20 approval
> completes the requirements to proceed with the first phase of the
Burnstone
> development project and has been included in the application for a
mining
> right.
> The processing and granting of an application for a mining right by the
DME
> generally takes approximately 12 months to conclude.
> President and CEO Ferdi Dippenaar said: "We welcome the approvals of the
EMP
> and the Section 20 application. The process has been indicative of the
good
> interactive relation****p between Great Basin Gold and the DME, and
emphasizes
> expectations for the Burnstone development project to be transformed
into a
> fully fledged mining operation. A significant added benefit from the
timing
> of the approval is that Great Basin Gold will expand our Cor****ate
Social
> Investment initiative, creating 60 outside employment op****tunities. An
> economic empowerment company, Inzanathi (Pty) Ltd, which was established
in
> 2007, will process crushed rock from the development, provide crushed to
the
> Burnstone project and commercially dispose of the surplus as well as
other
> manufactured, value added products to the community and region where
> infrastructure improvements are currently underway."
> Ferdi Dippenaar, President and CEO
> For additional details on Great Basin Gold and its gold properties,
please
> visit the Company's website at www.grtbasin.com.
>
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