👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Silver Mines welcomes advice on Bowdens Silver Project development consent

Published 15/10/2024, 12:24 pm
© Reuters.  Silver Mines welcomes advice on Bowdens Silver Project development consent

Silver Mines Ltd (ASX:SVL, OTC:SLVMF) is working through the steps required to achieve reinstatement of the development consent for the Bowdens Silver Project near Mudgee in the Central West of NSW, Australia.

This follows advice received by the company that the Development Application (DA) for the project “remains alive and on foot and has not been finally determined by the consent authority”, the Independent Planning Commission (IPC).

Advice sought

The company sought the advice following the decision by the NSW Court of Appeal to set aside the Bowdens' development consent provided by the IPC.

Silver Mines said this advice was important as NSW planning laws provided for a DA to be amended by the applicant, with the agreement of the NSW Department of Planning Housing and Infrastructure (DPHI), at any time prior to the DA being determined.

As a result, the company said it was now working through the steps required by DPHI to achieve reinstatement of the consent, in a way that would satisfy the Court's concerns in relation to the assessment of the transmission line to provide power to the proposed mine site.

Silver Mines will continue to provide regular updates pending further legal advice on pathways to amend the DA, to progress its ultimate assessment and determination.

Shares have been as much as 15% higher intra-day to $0.115.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.