Western Copper and Gold to submit environmental assessment by October

VANCOUVER - Western Copper and Gold Corporation (TSX:WRN) (NYSE American:WRN), currently trading near its 52-week high at $1.33 and showing strong momentum with an 8% gain last week, plans to submit its Environmental and Socio-economic Effects Statement for the Casino Project to Yukon regulators before the end of October, the company announced Tuesday.

The statement incorporates environmental and socio-economic baseline studies and assessments for the copper-gold mining project located in Yukon Territory. The company, which maintains a strong financial position with a current ratio of 22.49 and minimal debt according to InvestingPro data, reports it has conducted consultation with First Nations and local communities, incorporating feedback into the project design.

"The Western team and our external consultants have been working diligently on the Project ESE Statement," said Sandeep Singh, President and CEO of Western Copper and Gold, in a press release statement.

The Casino Project will undergo a Panel Review, which the company notes is the highest level of regulatory scrutiny for any project assessed in the Yukon Territory. Western Copper and Gold describes Casino as "one of Canada’s largest and most advanced critical minerals projects."

The company states it is committed to using "internationally recognized responsible mining technologies and practices" in developing the project, which it characterizes as a copper-gold mine.

Western Copper and Gold, with a market capitalization of $264 million, is advancing the project during a period of increased focus on critical minerals development in Canada’s northern territories. InvestingPro analysis shows analyst price targets ranging from $2.60 to $4.00, suggesting potential upside for this development-stage mining company. Get access to 8 more exclusive InvestingPro Tips to better understand WRN’s investment potential.

In other recent news, Western Copper and Gold has been the subject of multiple analyst reports and corporate announcements. Freedom Broker initiated coverage on the company with a buy rating and a price target of $2.60, emphasizing the potential of the Casino project in Yukon, Canada. This project is noted as the second-largest undeveloped greenfield copper asset globally. Meanwhile, H.C. Wainwright lowered its price target to $4.00 from $4.25 but maintained a Buy rating, citing revisions to an agreement with Rio Tinto. The revisions include the cancellation of Rio Tinto’s potential board seat and board observer rights, though collaboration continues through the Casino Project’s Technical and Sustainability Committee.

Additionally, Western Copper and Gold has expanded its partnership with Mitsubishi Materials Corporation. The extended investor rights agreement with Mitsubishi Materials is contingent upon the acquisition of an additional 2 million common shares, which would bring Mitsubishi’s stake back to around 5%. This move reflects Mitsubishi’s continued support for the Casino Project, which is a significant critical minerals venture in Canada. The company emphasizes responsible mining practices and collaboration with local communities as part of its development strategy.

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