Belo Sun Mining (TSX:V.BSX
, Stock Forum
) celebrated today when the company received the Federal Court of Appeal in Brasilia’s decision that stated its preliminary license for the Volta Grande project, located in 60 kilometres southwest of Altamira in the northern region of Para State, Brazil, is fully valid and in force.
According to the news release
, this decision overturns the resolution made by Federal Judge at the First Level in Altamira that was announced in the company’s press release dated June 26, 2014.
The company is far from its trading days of +0.90 per share back at the end of July 2013, but some Stockhouse bullboarders remain confident in the firm stating it had the potential to be a 25-bagger
Belo Sun was in the news recently when the Toronto-based company announced initial drill results at Volta Grande back at the end of June
Shares climbed 11.63% on the news to $0.24 per share.
Currently there are 265.9m outstanding shares with a market cap of $63.8 million.