WESTERN COPPER AND GOLD PROVIDES UPDATE ON ESE SUBMISSION
Rhea-AI Summary
Western Copper and Gold (NYSE: WRN) announced progress on its Environmental and Socio-economic Effects Statement (ESE Statement) for the Casino Project in Yukon. The company plans to submit the ESE Statement to the Yukon Environmental and Socio-economic Assessment Board (YESAB) by October 2025.
The ESE Statement includes comprehensive technical work, environmental and socio-economic baseline studies, and extensive consultation with First Nations and local communities. The Casino Project will undergo a Panel Review, marking the first-ever highest-level rigorous assessment for any project in Yukon territory.
As one of Canada's largest critical minerals projects, the Casino Project aligns with Yukon and Federal priorities regarding resource security, Arctic sovereignty, and infrastructure development.
Positive
- First company to undergo Panel Review in Yukon, demonstrating commitment to rigorous environmental standards
- Strong progress in First Nations and community consultation
- Strategic alignment with Canadian federal priorities for critical minerals and Arctic sovereignty
Negative
- Extended timeline for environmental review process with submission not expected until October 2025
News Market Reaction
On the day this news was published, WRN declined 3.76%, reflecting a moderate negative market reaction. Argus tracked a peak move of +6.3% during that session. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $10M from the company's valuation, bringing the market cap to $250M at that time.
Data tracked by StockTitan Argus on the day of publication.
The ESE Statement incorporates extensive technical work, including environmental and socio-economic baselines studies and assessments. Western is pleased with the progress to date and the level of consultation achieved thus far with First Nations and communities. The feedback from this engagement is making the Project stronger, and we look forward to continuing and intensifying these efforts during the assessment process. The Company expects to deliver its ESE Statement to the Yukon Environmental and Socio-economic Assessment Board ("YESAB") before the end of October.
"The Western team and our external consultants have been working diligently on the Project ESE Statement" said Sandeep Singh, President & CEO. "There is an incredible amount of work that has already gone into the Project. We are now in the final stages of compiling and refining this body of work into our submission.
The Company is the first to undertake a Panel Review in the
As one of
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project,
The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino Project, using internationally recognized responsible mining technologies and practices.
For more information, visit www.westerncopperandgold.com.
On behalf of the board,
"Sandeep Singh"
Sandeep Singh
President and CEO
Western Copper and Gold Corporation
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the risk of unforeseen challenges in advancing the Casino project, potential impacts on operational continuity, changes in general market conditions that could affect the Company's performance; and other risks and uncertainties disclosed in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure documents.
Forward-looking statements are based on assumptions management believes to be reasonable, such assumptions and factors as set out herein, and in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure document.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, other factors may cause results to be materially different from those anticipated, described, estimated, assessed or intended. These forward-looking statements represent the Company's views as of the date of this news release. There can be no assurance that any forward-looking statements will be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to and does not assume any obligation to update forward-looking statements other than as required by applicable law.
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SOURCE Western Copper and Gold Corporation
FAQ
When will Western Copper and Gold (WRN) submit its ESE Statement for the Casino Project?
What makes the Casino Project's environmental assessment unique in Yukon?
How is Western Copper's Casino Project aligned with Canadian federal priorities?
What type of consultation has Western Copper (WRN) conducted for the Casino Project?
What is included in Western Copper's ESE Statement for the Casino Project?
