Silver Mines welcomes a judgement to dismiss the application for a judicial review of the Independent Planning Commission’s development consent for Bowdens silver project
NSW’s Land and Environment Court dismissed proceedings brought by activist group the Bingman Catchment Landcare Group
The IPC’s development consent for Australia’s largest undeveloped silver deposit stands unchanged
Special Report: Silver Mines has welcomed the Land and Environment Court of NSW’s decision to dismiss the application for a judicial review of the Independent Planning Commission’s development consent for the Bowdens silver project.
Bowdens is Australia’s largest undeveloped silver deposit and one of the largest in the world. The project is 100%-owned by Silver Mines (ASX:SVL) and received the final tick of approval from the IPC just under a year ago after rigorous assessment and public hearings. The IPC’s development consent remains unchanged after NSW’s Land and Environment Court dismissed proceedings brought by activist group the Bingman Catchment Landcare Group Incorporated.
Silver Mines boss applauds court ruling
“We welcome the decision of the Land and Environment Court of New South Wales,” SVL managing director Jonathan Battershill said.
“These proceedings did not challenge any of the environmental or other impacts of the operations associated with the project.
“The proceedings challenged whether the IPC adequately considered matters relating to the construction and location of a powerline which may be required to power the mine site. Silver Mines has a number of options to power the site, and we were not limited to this one option.
“We are committed to the development of the Bowdens silver project, and we now look forward to getting on with progressing the project which will create jobs, drive investment and attract new businesses to the region.
“We strongly believe Silver Mines has delivered a technically reliable and environmentally responsible project. We are pleased to put these proceedings behind us and look forward to working actively with the community and all other stakeholders.”
Funds raised for development
It is another piece of good news for Silver Mines which recently kicked off its development plans for Bowdens with an oversubscribed $8 million placement and $2 million share purchase plan.
Funds raised via the placement and SPP – jointly managed by Canaccord Genuity and Jett Capital Advisors LLC – will be used to:
Update the Bowdens resource and reserved estimates this year. The current MRE contains 396Moz silver equivalent and was last updated in March 2023;
Complete the feasibility optimisation Study, which is forecast to boost project economics and is scheduled for release in the September quarter; and
Continue exploration for resource growth across SVL’s NSW tenements, and general working capital.
Going broader and deeper
Bowdens goes to a depth of about 650m across a strike of 1,100m – and it’s growing.
Project exploration within and outside the current planned open cut pit design recently returned more high-grade mineralisation in the highly prospective Southern Gold Zone and Bundarra Zone.
Some top hits from the past quarter included 22m at 185g/t silver equivalent from 130m and 45m at 126g/t silver equivalent from only 6m.
Clean energy vision
The area at the north and east of Bowdens is highly prospective for other minerals, including gold, zinc and copper, all of which are key to the clean energy transition.
Silver is facing expanding demand due to it being irreplaceable for solar energy and EVs.
As a result, Bowdens aligns closely with the NSW Government’s Critical Minerals and High-Tech Metals Strategy, which sets out a vision for the state to be a major global supplier and processor of minerals essential for a sustainable future.
This article was developed in collaboration with Silver Mines, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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