Contango ORE Closes Its Secured Credit Facility With ING and Macquarie to Fund the Construction of the Manh Choh Gold Project
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Thursday, May 18, 2023
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PGJV has received the federal permits needed for road construction and early work construction, which has been underway since August 2022 and continued throughout the winter months.
Key Points:
- PGJV has received the federal permits needed for road construction and early work construction, which has been underway since August 2022 and continued throughout the winter months.
- First gold production from the project is expected in the second half of 2024.
- Building upon the relationship with these two institutions will be a key part of growing the Company going forward.
- As a condition precedent to the second borrowing, the Company is required to hedge approximately 125koz of its attributable gold production from Manh Choh.