Coal News Hubb
Advertisement Banner
  • Home
  • News
  • Coal Mining
  • Contact
No Result
View All Result
  • Home
  • News
  • Coal Mining
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Coal Mining

Ascot closes C$200m package to build Premier gold project

admin by admin
January 22, 2023
in Coal Mining


Ascot closes C$200m package to build Premier gold project

Friday, January 20th, 2023

Toronto-listed Ascot Resources has closed a C$200-million financing package for the construction of the Premier Gold Project (PGP), in British Columbia, which will allow the company to remobilse contractors to the site.

The package consists of $110-million as a deposit in respect of gold and silver streamlining agreements with Sprott Private Resource Streaming and Royalty B and a strategic equity investment by Ccori Apu of C$45-million, a portion of which will be structured as Canadian Development Expenditures flow-through shares, such that the total gross proceeds to the company is C$50-million.

“We commend our financing partners Sprott Streaming and Ccori Apu for working diligently over the past month to expeditiously close the C$200-million financing package. We view the financing package as attractive as it preserves Ascot’s operational flexibility and enables the company to advance towards production with minimal debt,” said president and CEO Derek White.

With the finance package closed, Ascot is able to proceed with remobilising of contractors for project construction in 2023 ahead of initial gold production, which is anticipated in early 2024. 

Filed under: News

No Comments »



Source link

Previous Post

Imdex signs deal to acquire Norwegian mining tech firm Devico

Next Post

The risks of plundering the periodic table

Next Post

The risks of plundering the periodic table

Recommended

Colombia signs agreement to establish national mining company

2 months ago

Agnico Eagle to trial Sandvik BEV loader

5 months ago

© 2022 Coal News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Coal Mining
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Coal Mining
  • Contact

© 2022 Coal News Hubb All rights reserved.