Casino Mining Project Yukon

Camps at the Casino project in the Yukon. Photo: Western Copper and Gold

western logoWestern Copper and Gold (TSX:WRN, NYSE:WRN), a Vancouver-based exploration and development company operating in the Yukon, announced today that the Yukon Environmental and Socio-Economic Assessment Board (“YESAB”) had received Western's final proposal for the Casino Project through the company's 100% owned subsidiary, Casino Mining.

The proposal was over six years in the making with $18.0+ million spent on preparation as Knight Piesold guided a group of expert environmental scientists and engineers to put together the submission under the guidance of Casino's President and Vice President Environmental Affairs, Paul West-Sells and Jesse Duke respectively.

According to the news release, it will take another $1.0 million to $2.0 million to finish off the permitting process.

Western filed a cash balance and short term investments of $26 million as of September 30, 2013 and the company is on track to be permitted for construction by early 2016.

Western Chairman and CEO, Dale Corman, commented, “Submission of the Proposal is an important first step. Once the Proposal has been declared adequate, which we expect in the next few months, we will shift our focus toward detailed engineering and financing of the Casino Project.”

Related: Dale Corman’s Western Copper and Gold challenge: Developing a low-risk Casino

Currently there are 93.7m outstanding shares at Western with a market cap of $73.1 million.

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[Disclosure note: Western Copper and Gold is a client. This is not investment or professional advice.]