Penny Gold Miners

[goldenpolarbear]

« ...Kerr Mines (TSX: KER; US-OTC: KERMF) has agreed to a US$27.6 million prepaid forward gold financing with Pandion Mine Finance to fund its past producing Copperstone gold mine in Arizona through development and into production.

Kerr will sell Pandion 95,000 oz. gold at spot price less a discount within 40 months. It says it will not deliver Pandion any gold during the deal’s first 22 months.

Pandion will finance Kerr in two tranches. The US$19.6 million first trance will close in August; the US$8 million second tranche will close July 2019.

Copperstone produced nearly half a million oz. gold between 1987 and 1993. The open pit mine still has lots of infrastructure, including a power line and substation, three water wells, offices and a tailings facility, processing facility and mill. It is fully permitted. ... »

http://www.northernminer.com/fast-news/fast-news-kerr-funds-copperstone-gold-mine-revival-with-us27-6m-financing/1003797750/

https://kerrmines.com/KERR/kerr-mines-announces-us27-6-million-project-financing-and-makes-positive-production-decision.pdf

https://mailchi.mp/26d9eac33c1a/kerr-mines-announces-us276-million-project-financing-and-makes-positive-production-decision

https://kerrmines.com/kerr-mines-announces-us27-6-million-project-financing-and-makes-positive-production-decision/

Read more at http://www.stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=28336320#dVTmHgA4ic6P347W.99