Mining Stock Mining Americas Inc. (TSX: MAI) Gains On Permit Approvals For Development Of Cerro De Oro Project In Mexico

(MENAFN- Investor Ideas) ), a leader in mining investing news and home of theExploring Mining Podcast, issues a news and trading alert for Mining Americas Inc. (TSX: MAI ) (OTCQX: MAIFF).

The stock makes the TSX top percentage gainer list today, currently up 13.81%, trading at 6.43 +0.78 on volume of over 500,000 in early trading.

Mining Americas announced that the Mexican Federal Environmental Department ("SEMARNAT") has approved the key permits required for development of the Company's 100%-owned Cerro de Oro open pit, heap leach gold mine (the "Project") located in northern Zacatecas State, Mexico. Specifically, SEMARNAT has approved the land use change ("ETJ-CUS") and the environmental impact assessment ("MIA") for the Project.

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Concurrent with making the payments necessary to ratify the ETJ-CUS in the near term, the Company will start planning the advancement of Cerro de Oro towards a construction decision. This includes progression of ancillary permits, licenses, and approvals required for construction and operation of the Project. Detailed engineering and mine designs will also be evaluated in the context of the current elevated gold price environment. In addition, the Company is planning for a drill program which will provide material for additional metallurgical testwork optimization studies and also test the depth extents of the deposit where mineralization is open below the current resource depth of approximately 130 metres.

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