Wednesday, August 7, 2019

Pure Gold Mining Inc. - PGM.v

Pure Gold Mining Inc. - PGM.v is advancing the Madsen Mine.

The Madsen Mine produced more than 2.4m ounces, making it the second-largest historic Red Lake gold producer. Resources are 1,744,000 ozs at 8.7 g/t Gold in 6.24 Mt Indicated and 296,000 ozs at 7.9 g/t Gold in 1.16 Mt Inferred.
On Aug 7, 2019 the company released News

Pure Gold Secures US$90 Million Construction Finance Package And Announces Construction Decision For Madsen Red Lake Mine

Pure Gold Mining Inc. is pleased to announce closing of a US$90 million project financing package with Sprott Resource Lending Corp. The Financing will fully fund the costs to develop an underground mine at Pure Gold’s Madsen Gold Project. The Financing is comprised of a credit facility for US$65 million, and a US$25 million callable gold stream.