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Brucejack mine goes to construction

The company behind an underground gold mine near Stewart says it is forging ahead.

Pretivm Resources has announced that construction on the Brucejack mine will proceed now that financing is in place.

The company says it has received construction financing to the tune of US$540 million.

According to a company news release, the financing is comprised of a credit facility for US$350 million, a US$150 million prepayment under a callable gold and silver stream agreement and a private placement of Pretivm common shares for US$40 million.

The Brucejack mine received its federal and provincial regulatory approval earlier this year. Pretivm has also signed an economic benefit agreement with the Nisga’a Nation.

The mine is expected to start commercial production in 2017.

About Bill Fee

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