Gold Bullion Development Corporation (CVE:GBB) has announced that it will change its name to Granada Gold Mine Inc. to align the company with its main project, the Granada gold property in Quebec.
The idea is to get mining at Granada underway shortly as part of a programme the company terms the “Rolling Start”.
In plans laid out in a 2014 pre-feasibility study, the “Rolling Start” envisaged initial production from Granada of 25,000 ounces per year over a three year period.
This should then expand, based on the existing resource of over 1.5 mln ounces measured, indicated and inferred, as estimated by SGS Canada Inc using a one gram per tonne cut-off.
Stripping work at Granada was begun last year and all necessary permits for mining are now in place, as are agreements with First Nations.
Shares in Gold Bullion Developments have risen by around 15% since the start of the year to C$0.075.
Story by ProactiveInvestors