Financing In Place For Northern Gold Mine

Financing In Place For Northern Gold Mine

Tuesday, May 11, 2010 at 12:31

A mining company that is working to establish a gold mine north of La Ronge says it has secured enough money to do the job.

Golden Band Resources says it has received term sheets for up to $15 million in debt financing.

The money will be used to refurbish the Jolu Mill.

Established in the late 1980s, the mill is being fixed up so it can process material from the nearby Bingo mine.

Gary Hayward is the vice-president of operations for Golden Band.

Hayward says everything is on schedule and the debt financing should give the company enough money to get things up and running.

Golden Band says it expects to commence gold production later this year.