10:33 AM EST, 11/04/2024 (MT Newswires) -- Liberty Gold ( LGDTF ) said Monday that it achieved permitting milestones for the Black Pine oxide gold project in Idaho.

The company said its collaborative efforts with the U.S. Forest Service (USFS) resulted in the recent execution of a Memorandum of Understanding and a Cost Recovery Agreement.

Liberty Gold ( LGDTF ) also said that the selection and approval of a third-party contractor for the National Environmental Policy Act process was also received from the USFS and Bureau of Land Management.

"These developments underscore our commitment to working closely with federal regulators to ensure a thorough and transparent permitting process that meets the highest environmental and regulatory standards," said Matt Zietlow, director of regulatory affairs and sustainability of Liberty Gold ( LGDTF ). "Our progress in permitting brings us closer to unlocking the significant value of our flagship project and aligns with our commitment to environmental responsibility and stakeholder engagement."

Meanwhile, Liberty kept its Outperform rating and $0.75 price target at National Bank of Canada following the news. National said the impact is "Neutral". It added: "Today's update formalizes administrative processes and government relationships to facilitate the eventual start of a full National Environmental Policy Act (NEPA) permitting process for the Black Pine project. Going forward, we will look for specifics on anticipated timing of this process as well as plans to complete a Feasibility Study and enhancements via further exploration efforts on the broader land package in 2025."

"Our target price for Liberty is based on a 0.65x multiple to our fully financed project NAV, plus corporate adjustments," National Bank said.

Liberty Gold's ( LGDTF ) share price fell 1.5% at last look to $0.32.

Price: 0.32, Change: -0.01, Percent Change: -1.54