Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on the Fast Track applications for the Reefton Gold and Antimony project and the Sams Creek Gold project.
Highlights
In early April 2024, the New Zealand government opened an application process for projects to be included in new legislation establishing a one-stop shop fast-track approvals regime. The intention of the Fast Track approvals process is to make it easier and faster to build nationally significant projects, as a key part of the government’s plan to rebuild the economy.The Company has submitted both the “Reefton Project” and the “Sams Creek Project” for consideration and inclusion as a “listed project” in the Fast-Track Approvals Bill (Bill).The Government has established the Fast Track Project Advisory Group to identify listed projects for inclusion in the Bill.The Company is looking forward to receiving feedback from the Government and in the meantime is focused on the exploration programs currently under way at both the Reefton and Sams Creek projects.
Siren Managing Director and CEO, Victor Rajasooriar commented:
“The team has worked diligently to have applied for both the Reefton and Sams Creek projects to be considered and included as a ‘listed project’ in the Fast-Track Approvals Bill. The Reefton project has the potential to grow into a significant gold and antimony operation and put Reefton on the global map as a producer of antimony, which is geopolitically significant as a critical mineral.
“Furthermore, the Sams Creek project with its large endowment of gold has the potential to add significant revenue and employment opportunities for the Country. We look forward to working with the government and local stakeholders to advance both projects to fruition”.
Fast Track Approval Process
After being introduced to the New Zealand Parliament on 7 March 2024, the Bill is now being considered by the Environment Select Committee, which will provide recommendations to the House.
The Government has now established a process to identify listed projects for inclusion in the Bill. This involvesagroupofindependentexperts-theFast-TrackProjectsAdvisoryGroup (the Advisory Group), who will be assessing and making recommendations to Ministers on which projects to include in the Bill.
The Company has nominated both the Reefton Project and the Sams Creek Project to be considered and included as a “listed project” in the Bill.
The Advisory Group will undertake an assessment of the projects against the referral criteria in the Bill. It will be supported by a group of officials from the Ministry of Business Innovation and Employment (MBIE) and the Ministry for the Environment (MfE).
The Advisory Group will then make its recommendations to the Joint Ministers who will make decisions on what projects to include in the Bill. These projects will be added to the Bill, either through the Select Committee process or later in the Parliamentary process.
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