01:38 PM EDT, 10/06/2025 (MT Newswires) -- Western Copper and Gold ( WRN ) on Monday said it submitted its Environmental and Socio-economic Effects Statement (ESE Statement) for the proposed Casino Project to the Yukon Environmental and Socio-economic Assessment Board (YESAB).

The company said that the ESE statement details the assessment of potential project-related and cumulative environmental and socio-economic effects for valued environmental and socio-economic components.

A statement noted the submission is an important step in the panel review process under the Yukon Environmental and Socio-economic Assessment Act (YESAA), representing a "significant positive step" in the permitting process for Casino.

The company said after a short review period, YESAB will publish the ESE Statement to its online registry. The next step will involve a sufficiency check by YESAB's Executive Committee to confirm that the ESE Statement meets the ESE Statement Guidelines, as well as other preparatory steps by YESAB to formally establish the Panel of the Board, which will conduct a comprehensive assessment of the Project.

Among the economic impact highlights, the company said that Casino would rank as "Canada's second-largest copper producer and the country's single largest molybdenum producer, increasing domestic production by 15% and 500%, respectively."

National Bank of Canada on Monday maintained an outperform rating and C$3.75 price target on the company's shares, saying the submission is a "milestone update, representing nearly a decade of quiet preparation."

The bank said that the project's large scale and long-life potential makes it an "attractive M&A target" for major copper-gold producers to acquire and build in a safe Canadian jurisdiction.

"Our outperform rating on Western Copper and Gold ( WRN ) is driven by the deeply discounted valuation (Feasibility NPV8% of C$5 billion at US$4.50 Cu and US$2,500/oz Au), and supportive outlook for the Casino project as a viable coppergold development opportunity that has visibility to advance to the next stage of permitting, in alignment with Canada's critical minerals' strategy," said the bank.

National Bank of Canada said that the Panel Review is designed as a three-year process, and that the bank expects to follow the progress through the various stages.

The bank added that it is also also keeping an eye out for updates regarding "external catalysts" that may be impactful to WRN and the Casino project, including Yukon-BC Grid Connect news, and federal and territorial incentive programs for critical minerals development, which could incentivize faster domestic permitting initiatives.

The company's shares were last seen up $0.19 to $2.97 on the Toronto Stock Exchange.

Price: 2.97, Change: +0.19, Percent Change: +6.83