Moreton Resources Ltd. decided to cease the advancement of production at its Granite Belt silver and gold mine in Queensland, Australia, amid legal issues regarding financial assurance matters.
The company's unit MRV Metals Pty Ltd, which manages the project, is challenging the determined financial assurance by the Department of Environment and Science before Queensland courts.
Moreton said Aug. 30 that it is confident the matter will be settled in favor of MRV, therefore it is still aiming to start mining operations in January 2020, which will be followed by refurbishment of the plant and equipment for full-scale production during the first quarter of 2020.
Meanwhile, the company is going to use the next four months for planning and development of a longer-term site execution plan.
