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

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.