https://www.miningweekly.com

Primary raises cash for gold projects

Primary raises cash for gold projects

Photo by Bloomberg

3rd February 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior project developer Primary Gold will raise some A$8.5-million to progress work at the Coolgardie and Mount Bundy gold projects, in Western Australia and the Northern Territory respectively.

Primary this week said it would place some 12.14-million shares, priced at 7c each, to institutional and sophisticated investors, with firm commitments already received.

The Coolgardie project was acquired in 2016, and hosts an existing resource of 3.81-million tonnes, at 1.63 g/t gold for 200 600 oz of gold. Primary was targeting approvals for the Coolgardie mine by the first half of this year, and was planning to initially mine the Macphersons and Tycho deposits, and toll treat the ore at nearby mills.

Mount Bundy, in turn, is estimated to host a resource base of 26.9-million tonnes, at 1.5 g/t gold for 1.24-million ounces of gold. The resource lies within 10 km of treatment opportunities.

Edited by Creamer Media Reporter

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.064 0.101s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: