Haile location Map

Map of Southern States Gold Belt (Image: Romarco Minerals)

Romarco Minerals (R.T) is facing a review of the proposed operating permit for the Haile Gold Mine in South Carolina. The Sierra Club has called into question the reclamation and bonding amount as areas of concern.

Romarco management does not expect any issues and believes all concerns were met during the permitting process.

The South Carolina Department of Health and Environmental Control board has 60 days to review or decline the request.

As a result of the review management has decided to remain in cash conservation mode until the review is completed.

Management was on a conference call this morning to update investors and a playback can be heard by calling 1-855-859-2056 and entering passcode 38875739 followed by the number sign.

The stock traded down 2 cents to 64 cents on the news with volume of 3.4 million shares today.

Stay tuned for further updates on the Romarco story.

Read: Romarco notified of request for agency review of operating permit  or Romarco`s Haile mine in South Carolina is now fully permitted

I have no position in any of the stocks mentioned. This is not investment advice. As always please do your own due diligence.