Here are Atte’s comments regarding Endomines’ Southern Gold Line project not receiving the strategic project status under the European Union’s CRMA regulation, which keeps the project’s risk profile high and complicates, among other things, permitting & financing.
We consider the decision a clear disappointment for the company, as we estimate the status would have lowered the risks associated with the project’s permitting and financing. However, the decision keeps the project’s risk profile elevated and underscores our cautious view regarding its target schedule.