See also post of May 25, 2013, “Esperanza Resources plans a ‘big year’”. Video interview of Esperanza CEO Greg Smith.
The Northern Miner
Esperanza Resources ran into a hiccup during the permitting process at its wholly owned Esperanza gold-silver project in Mexico’s Morelos state, pushing its shares down 19% since the Mexican federal permitting authority or SEMARNAT denied the project’s environmental permit application, known for short as MIA in Spanish.
Esperanza states the permit was not approved because it did not meet NOM-155-SEMARNAT-2007 which outlines environmental protection for leaching gold and silver ores. More specifically, it explains the MIA was dismissed because it contained discrepancies in labeling the environmental climate in which the leach pad would be placed, as well as failed to provide a detailed hydro-geological assessment of the leach pad’s location.
The junior is currently reviewing the MIA and intends to resubmit the permit once it complies with the SEMARNAT notification.