Homerun Resources Inc. Granting of the Environmental License for the Belmonte High Purity Silica Sand Project
Rhea-AI Summary
Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) has secured an Environmental License from the municipality of Belmonte for its silica sand project in Bahia, Brazil. The license, issued on December 6, 2024, covers mineral tenements 871011/1989, 871375/2007, 873385/2007, and 870141/2014, and is valid for two years. Under Bahia state law, this license qualifies as an 'Installation License' for filing the final Mining License with the Mining National Agency (ANM).
The project operates under a 40-year lease agreement with Companhia Baiana de Produção Mineral (CBPM). The license includes standard environmental conditions regarding ecosystem preservation, soil erosion control, and regulatory compliance. Both companies are collaborating on the Mining License application process.
Positive
- Obtained Environmental License for silica sand project in Brazil
- License qualifies for final Mining License application
- Secured under 40-year lease agreement
- Quick approval process indicates positive government relations
Negative
- License validity to two years
- Final Mining License still pending approval
- Subject to ongoing environmental compliance conditions
News Market Reaction
On the day this news was published, HMRFF gained 2.34%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the municipality of Belmonte has issued the Environmental License for Homerun's silica sand project under lease agreement with Companhia Baiana de Produção Mineral (CBPM), in Santa Maria Eterna District, Belmonte, Bahia, Brazil.
The license was issued on December 6, 2024 by the Secretaria Municipal de Meio Ambiente (Municipality's Environment Office), and applies to the mineral tenements 871011/1989, 871375/2007, 873385/2007 and 870141/2014. The license is valid for two years and was issued conditional to the fulfilment of the usual conditions, such as preserving the natural ecosystem, control of soil erosion and compliance with all applicable regulations.
According to the laws of the State of Bahia, this license can be considered an "Installation License" for the purpose of filing for the final Mining License at the Mining National Agency (ANM). Homerun and CBPM are working in cooperation to ensure the filing of the Mining License request. This is another important step forward in Homerun's commitment under its partnership with Companhia Baiana de Pesquisa Mineral (CBPM), within the scope of the 40-year lease agreement between the Parties.
"The fact that this license was issued in such a short period of time and without any special conditions, is strong evidence of the ongoing positive reputation that Homerun has built among all levels of the Bahia Government. We will continue to work diligently to honor this trust and ensure that our business and operational activities bring major positive economic, social and environmental impacts to our community of stakeholders," stated Armando Farhate, COO of Homerun.
About Homerun Resources (https://homerunresources.com/)
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.
On behalf of the Board of Directors of
Homerun Resources Inc.
"Brian Leeners"
Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233659
FAQ
When did Homerun Resources (HMRFF) receive its Environmental License for the Belmonte project?
How long is HMRFF's Environmental License valid for the Belmonte silica sand project?
What mineral tenements are covered by HMRFF's Belmonte Environmental License?
What is the duration of HMRFF's lease agreement with CBPM for the Belmonte project?
What are the next regulatory steps for HMRFF's Belmonte silica sand project?
