11:35 AM EST, 12/17/2018 (MT Newswires) -- Premier Gold Mines (PG.TO) -- a gold producer and exploration and development company -- edged up 4.0% to $1.55 apiece, but still near 52-week low, on Monday after its Hardrock Project received the Environmental Assessment (EA) approval from the Minister of Environment and Climate Change on December 13, 2018.

The multi-million ounce gold mining project consists of the construction, operation, decommissioning and abandonment of an open pit and onsite metal mill in northern Ontario, according to a statement.

John Begeman, Executive Chairman of Premier, said: "The Ministers' approval of the EA is a significant milestone for the Hardrock Project. Our engagement with representatives of the local Indigenous communities, local communities and the various government agencies has been very positive throughout the process and we look forward to continued advancement of the project."

According to Monday's statement, the Provincial Ministry EA Review Report was issued for public comment on October 22, 2018 and approval is anticipated in Q1 2019. Premier said work on construction permit applications are well advanced and will be submitted for review once the federal EA and provincial EA's are approved.

Price: 1.55, Change: +0.06, Percent Change: +4.03