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Construction|Gold|Mining|PROJECT
Construction|Gold|Mining|PROJECT
construction|gold|mining|project

Continental obtains $175m for Colombia gold mine

18th March 2019

By: Creamer Media Reporter

     

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TSX-listed project developer Continental Gold has obtained a $175-million funding package to complete the construction, commissioning and start-up of its Buriticá gold project, in Colombia.

The package consists of $75-million of unsecured convertible debentures issued to certain investors, including gold major Newmont Mining, and a $100-million gold and silver stream from Triple Flag Mining Finance Bermuda.

The mine is scheduled to pour its first gold in the first half of 2020, with commercial production ramp-up expected about six months therafter.

The 2016 feasibility study for the Buriticá estimates that the mine will produce 253 000 oz/y of gold and that it will be Colombia’s largest gold mine.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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