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    Roxgold Completes US$30-million Drawdown from Project Finance Facility

    Charlotte McLeod
    Sep. 14, 2015 09:52AM PST
    Gold Investing

    Roxgold Inc. (TSXV:ROG) announced that it’s completed the first US$30-million drawdown of a previously announced US$75-million, six-year senior secured project finance facility for its Burkina Faso-based Yaramoko gold project.

    Roxgold Inc. (TSXV:ROG) announced that it’s completed the first US$30-million drawdown of a previously announced US$75-million, six-year senior secured project finance facility for its Burkina Faso-based Yaramoko gold project.
    Highlights include:

    • Overall construction program approximately 36% complete
    • Bulk earthworks approximately 95% complete
    • Water Storage Facility and Tailings Storage Facility embankments completed ahead of schedule
    • Mine access boxcut completed and portal collar ground preparations completed
    • Underground access ramp developed to 30 metres
    • Permanent accommodation camp approximately 85% complete
    • Project budget on track with approximately US$27 million spent out of a total US$44 million committed of the estimated US$110.8 million project capital cost
    • Project Commissioning remains targeted for mid-2016

    John Dorward, president and CEO of Roxgold, commented:

    We are pleased that the project continues to progress well. The initial drawdown under the project finance facility is a significant milestone and I would like to thank our team as well as our advisors for their efforts.

    Click here to read the full Roxgold Inc. (TSXV:ROG) press release.

    tsxv:rogroxgold inc
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