We would like to inform you that LTD Caucasian Mining Group is conducting geological exploration works in the Darbazi Valley area, with the purpose of studying the geological characteristics of the territory.
The works are being carried out in full compliance with the Georgian legislation, under License Order No. 430 (License No. 10002889) issued by the LEPL National Agency of Mineral Resources. The company also holds a special forest use permit for the aforementioned territory issued by the LEPL National Forestry Agency.
It is important for us to establish solid and wholesome communication with the local population and to reiterate that, at this stage, only exploratory activities are being conducted on the site, including the construction of trenches and drilling of boreholes. Due to the nature of such activities, exploratory works generally take approximately 2–3 years. Therefore, the commencement of mineral extraction operations is not being considered in the near future. At the same time, we believe it is essential for the local population to have complete and objective information regarding the ongoing process, including what the geological exploration phase entails, and what potential economic and social benefits a possible deposit could bring in the future for the local community, the region, and the country as a whole.
The company remains fully committed to comprehensive and transparent communication. Accordingly, we express our readiness to meet with the trusted representative of the village and provide detailed information regarding the specifics of ongoing works and future processes, and answer their questions. Additionally, we are open to share all updates fully, from each stage of the processes, to the interested parties.