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The latest update is out from Cerrado Gold ( (TSE:CERT) ).
Cerrado Gold is contesting a purported unfavourable opinion issued by Portugal’s environmental regulator APA on the Environmental Impact Assessment for its Lagoa Salgada project, arguing that the decision came after the statutory deadline expired and that, under Portuguese law, the project is therefore deemed to have tacit environmental approval. The company, whose project has been designated a Project of National Interest and previously received unanimous support from all 14 entities on the Technical Evaluation Committee, maintains that it can proceed to the next permitting phase, is engaging with authorities to reach a mutually acceptable resolution, and is prepared to pursue legal action to enforce what it sees as its rights under the environmental assessment regime, highlighting that it has already made significant design changes to reduce environmental impacts, including eliminating cyanide use, strengthening groundwater protection and adopting dry-stack tailings.
The most recent analyst rating on (TSE:CERT) stock is a Buy with a C$3.30 price target. To see the full list of analyst forecasts on Cerrado Gold stock, see the TSE:CERT Stock Forecast page.
More about Cerrado Gold
Cerrado Gold Inc. is a precious and base metals mining and development company with projects including the Lagoa Salgada polymetallic project in the Iberian Pyrite Belt in southern Portugal, which targets critical and strategic metals aligned with European supply and the EU Critical Raw Materials Act.
Average Trading Volume: 435,780
Technical Sentiment Signal: Buy
Current Market Cap: C$308.6M
Learn more about CERT stock on TipRanks’ Stock Analysis page.