Canadian mining company Sandspring Resources Inc has put off completing a feasibility study for its proposed large-scale gold mine at Toroparu, Upper Puruni River as a result of uncertainty in the gold market.
The company’s Toroparu Gold Project in Region Seven was one of three large-scale mines including Troy Resources Limited and Guyana Goldfields who were set to open mines and begin gold production this year. Troy Resources and Guyana Goldfields have moved ahead with their plans and are set to begin production this year. Sandspring, however, earlier this week cited the uncertainty in the gold market and challenges in raising capital for the deferral of its feasibility study.
In a statement, the company said that it is undertaking a series of steps to enhance its ability to move forward while responding to the