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.