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Lydian completes complex land purchase program at Amulsar

Tuesday, November 1, 2016 6:41
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Armenia-focused gold mine developer Lydian International Ltd (TSE:LYD) has completed the acquisition of previously privately-owned land at its Amulsar gold project.

Lydian now controls all surface rights within the footprint of the rock allocation area at Amulsar, as granted to Lydian by the Republic of Armenia.

In all, the company bought 278 land plots, covering some 150 hectares.

“All land access to build the Amulsar gold project has now been obtained. This was a very complex process, involving 145 individual land owners from the Gndevaz community,” said Howard Stevenson, the president and chief executive officer of Lydian.

“We believe this favorable outcome is a result of having engaged openly and respectfully with all parties, and reflects our sound working relationship with community members that will continue to support our advancement at Amulsar. We are very proud of this achievement,” Stevenson declared.

Story by ProactiveInvestors


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