Liberty Gold (TSX:LGD,OTCQX:LGDTF) has moved a step closer to advancing its flagship US asset after securing entry into the US Federal Permitting Improvement Steering Council’s FAST-41 program.
The company announced that its Black Pine Oxide Gold project in Idaho has been accepted into the program as a “Covered Project,” giving it access to a coordinated federal review schedule and enhanced interagency oversight.
Shares of the company rose 7.7 percent to C$1.05 following the announcement, their highest level since March 2022, and have since held steady at that level.
For developers, the clarity brought about by the program is often as important as speed. Created under the 2015 Fixing America’s Surface Transportation Act, FAST-41 was designed to address one of the mining sector’s most persistent challenges: unpredictable permitting timelines.
Projects admitted into the program are assigned a lead agency, a defined schedule, and a publicly tracked timeline through a federal dashboard. While the framework does not override environmental laws or guarantee faster approvals, it aims to reduce delays tied to fragmented reviews and shifting regulatory requirements.
Liberty Gold said it expects to enter a structured coordination phase within 60 days, after which an updated permitting schedule will be published.
Gaining momentum
FAST-41 has expanded rapidly over the past year as US policymakers push to accelerate domestic resource development.
According to the Permitting Council, the program’s portfolio grew to 76 active projects in 2025, with 13 completing federal permitting during the year. Mining projects have become an increasingly prominent part of that pipeline, reflecting broader efforts to secure domestic supply chains for critical materials.
“This has been an exciting year for the Permitting Council, as our agency has taken on a prominent role in bringing real, measurable improvements to federal permitting and getting more projects to the finish line,” said Executive Director Emily Domenech.
The agency has also introduced new tools, including expanded use of a transparency dashboard and coordination agreements with state governments, aimed at tightening timelines and improving accountability across agencies.
Liberty Gold is only one of the growing list of companies that are turning to FAST-41 as a way to de-risk large-scale projects.
Uranium Energy’s (NYSEAMERICAN:UEC) Sweetwater project in Wyoming was designated under the framework in August 2025, part of a broader push to strengthen domestic uranium production. The designation allows the company to advance modifications to existing permits and expand operations using in-situ recovery methods.
Shares rose to a 52-week high of US$9.91 following the announcement and have since climbed to US$12.51, a gain of roughly 26 percent in over 7 months.
Meanwhile, Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) saw a similar re-rating after its Castle Mountain Phase Two project in California was accepted into FAST-41 the same month.
The company pointed to improved regulatory certainty and a defined permitting schedule, with federal approvals expected by late 2026.
Its shares have risen from US$6.65 at the time of the announcement to US$12.64, an increase of about 90 percent, supported by both project-specific developments and a stronger gold price environment.
Why permitting still matters
For mining companies, permitting remains one of the longest and least predictable phases of project development. Even well-defined assets can face delays tied to environmental reviews, interagency coordination or legal challenges.
While FAST-41 does not eliminate those risks, it nonetheless introduces structure. By setting timelines and making them public, the framework reduces uncertainty around the process, potentially changing how investors react and value a project.
In development-stage mining, valuation often hinges on perceived risk as much as underlying resource size or economics. A project with a clearer path to approval can command a higher valuation multiple, particularly in jurisdictions where permitting has historically been a bottleneck.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.