The EA outlined 38 conditions and project design requirements that were legally binding requirements that IDM would have to meet to maintain compliance with the certificate. These covered a wide gamut of considerations, ranging from wildlife monitoring and management plan, to social effects management plans owing to the anticipated significant influx of the Red Mountain work force in the town of Stewart.
The conditions were developed following consultation and input from Indigenous groups, government agencies, communities and the public.
"This is a significant step for the company and the realisation of the potential of the Red Mountain gold project. With the successful completion of a rigorous process in a timely way, we have demonstrated the value and validity of our approach to project permitting, community engagement and project development," said chairman Michael McPhie.
Construction of the new mine was expected to create 103 direct full-time equivalent local jobs during an 18-month construction period, with a further 72 direct jobs generated in British Columbia. Direct project expenditures on construction were estimated to total C$93.5 million within the province.
IDM had proposed a year-round, high-grade underground gold-silver operation using bulk mining methods, mainly comprising longhole stoping. Ore would be trucked to a mill located within the adjacent Bitter Creek valley, producing gold-silver doré bars. Tailings would be stored within a lined storage facility, with water treated before being discharged.
IDM still had to obtain other federal, provincial and local government permits to proceed with construction.
IDM's stock hit a new 12-month low Tuesday at C6c a share, before closing 8.33% higher at C6.5c, giving the company a market value just under C$30 million.
