Precious metals company Sabina Gold & Silver has drawn $31.25-million on its $125-million gold stream facility with Wheaton Precious Metals.
The proceeds of the stream are being used to continue development and construction of the Goose mine at its 100%-owned Back River gold district, in Nunavut.
Sabina last month formally committed to building the C$610-million Goose mine, with full construction set to start in 2023 and first production in 2025.
Goose, which is Sabina’s first mine on the 80-km-long Back River gold district, will produce 223 000 oz/y.