Roxgold Receives Signed Mining Convention and Provides Development Update for Yaramoko

Roxgold Inc. (TSXV:ROG) announced that it has received the signed mining convention from Burkina Faso’s Council of Ministers for the Yaramoko Gold project. The company also provided an update on the ongoing development of the property.
As quoted in the press release:

Activities on site at Yaramoko are advancing at an encouraging rate. Since breaking ground at the project in late March, works have been significantly advanced in all areas. Early works have focused on the critical path activities of bulk earthworks, camp construction and procurement.
Over 700 personnel are now on site working on the project and all contractors associated with the project have mobilized with works advancing simultaneously on all fronts. As at the end of July, the company had spent approximately US$ 25 million and remains on target to complete the project within the budget of US$ 110.8 million.

Highlights:

• Signed Yaramoko Mining Convention received from the Burkina Faso Ministry of Mines
• Overall Construction program approximately 25% complete
• Bulk earthworks approximately two thirds complete
• Water Storage Facility completed and collecting water from current wet season
• Mine Access Boxcut completed with portal ground preparations commenced
• Permanent Accommodation camp approximately two thirds complete
• Project on track, with approximately US$ 25M of US$ 110.8M spent to date
• Project Financing signed and progressing to initial drawdown
• Project Commissioning targeted for mid-2016
• Cash on hand of approximately US$ 24M at the end of July

John Dorward, president and CEO of Roxgold, commented:

We are very pleased with the start of activities to date as the project continues according to plan and budget. Initial progress has been encouraging and we are well placed to advance the construction of Yaramoko with key items of equipment and both major contractors now on site.

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