London-listed Wishbone Gold PLC's shares surged 60% on Dec. 19 after it announced that joint venture partner Sion Honduras SA received a license to operate the plant and equipment at their Honduran mining project.

The project was created to provide artisanal miners with the correct equipment to process gold-bearing ore. It was initially delayed by weather and then by licensing issues.

Wishbone will accelerate production over the coming months, and shipments to Dubai are expected in the first quarter of 2019.

Wishbone and Sion formed their joint venture in March 2017 to fund the development of existing gold mines in Honduras.