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Lydian International Ltd.

Lydian International says Amsular environmental audit substantiates company's approach to stewardship

CEO Edward Sellars said that Lydian’s environmental practices meet or exceed all applicable international standards

gold coins in soil
Amsular is a large-scale gold project in Armenia

Lydian International Limited (TSE:LYD) (OTCMKTS:LYDIF) has responded to the environmental audit recommendations put forth by a recent environmental audit on the company’s Amsular gold project in Armenia.

The Toronto-based miner saw its shares skyrocket earlier this week when the report was made public.

The special investigative body analyzed the information and findings provided by the international audit report and found no grounds for criminal prosecution and continuation of criminal proceedings.

READ: Lydian International trying to progress Armenia gold project; reports 2Q results

“The Audit Report substantiated Lydian’s prudential approach to environmental stewardship,” said Edward Sellars, the company’s interim CEO.

“Lydian’s responses to the recommendations contained in the Audit Report speak for themselves, and Lydian has made its responses public so that fair minded people will be fully informed.”

According to Sellars, Lydian’s environmental practices meet or exceed all applicable international standards, and were fully evaluated and confirmed as part of the comprehensive assessment under which Lydian received its mining permits.

“The company provided every piece of information requested of it as part of the audit, and all information was consistent with that provided by or on behalf of the company in support of prior environmental assessments and numerous audits,” he said as part of his response.

“The information provided was more than sufficient for the authors of the Audit Report to form professional judgements consistent with those of other international experts who have previously considered the matters covered by the audit.” 

Lydian provided the committee with over 300 documents of information related to Amsular, a gold project located in south-central Armenia.

Amulsar is set to be a large-scale, low-cost operation with gold production targeted to average 225,000 ounces annually over an initial 10-year mine life, but the project is hampered by an illegal blockade from local protestors.

The project has been subject to three full-scale environmental audits since July last year and Lydian has cooperated with all.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Lydian International Ltd.

Price: $0.11

Market: TSX
Market Cap: $79.8 m
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