https://www.miningweekly.com

Gran Colombia wraps up Marmato spin-off

26th February 2020

By: Creamer Media Reporter

     

Font size: - +

TSX-listed Gran Colombia Gold has completed the previously announced spin-off of its Marmato mining assets, in Colombia, through a reverse takeover transaction with Bluenose Gold.

The resulting issuer is named Caldas Gold and is expected to start trading on the TSX-V on Friday.

Gran Colombia owns about 72% of Caldas Gold.

“With total proceeds from the equity financings of approximately C$21.6-million, Caldas Gold is well capitalised to take the Marmato project forward as it completes the prefeasibility study for the underground mine expansion in the first half of 2020 and continues drilling the Deep Zone mineralisation,” said Gran Colombia executive chairperson Serafina Iacono.

The Marmato mining assets comprise the existing producing underground gold mine, the existing 1 200 t/d processing plant and the area encompassing the Deeps mineralisation, all located within the mining licence area referred to as Zona Baja.

The existing underground mine at Marmato produced 25 750 oz of gold in 2019, representing a 3% increase over 2018, and Caldas Gold expects to produce between 32 000 oz and 37 000 oz of gold in 2020.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.046 0.753s - 110pq - 2rq
Subscribe Now