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« ... Finally, Kerr Mines (TSX:KER), signed a

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goldenpolarbear   Saturday, 07/21/18 02:23:57 AM
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« ... Finally, Kerr Mines (TSX:KER), signed a letter of intent with Pandion Mine Finance for US$27.6 million to fund the development and production of gold at the Copperstone mine by Q4 2019.

The financing is subject to the execution of a prepaid forward gold agreement with an anticipated initial tranche of US$19.6 million. It is set to take place in August 2018, and a second tranche of US$8 million will happen in July 2019.

As mentioned, the proceeds will be used to bring the Copperstone mine into production by Q4 2019. Additionally, the company will begin a 2018 drilling program that will convert a significant proportion of measured, indicated and inferred resources into proven and probable resources.

“With this funding arrangement now in place, we are highly focused on continuing to create shareholder value and are now able to turn our attention to achieving our next targets — production in 2019, expansion of resources and mine life,” said Claudio Ciavarella, CEO at Kerr..... »



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