Thinking out of the box to finance potential development ! Other junior exploration companies like Orefinders Res are finding creative ways to finance development and exploration, just like Integra that bring some non-dilutive cash into the company.
Thinking out of the Box !
Integras owns 22.3m shares in Eastmain Res that is now worth $20.29m less $3.2m warrant exercise for a $17.09m cash injection,, if we need it ? LOL
(@$1.75 cash $35.82m)(@$2.00 cash $41.4m)
“This is really a means to an end because it allows us to bring some non-dilutive cash into the company, which in turn could lead to putting the open pit back into production.""
Orefinders plans to cash in on historic Mirado stockpiles
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VANCOUVER — Orefinders Resources (TSXV: ORX; US-OTC: ORFDF) has found a creative way to finance potential development and exploration at its past-producing Mirado gold project 35 km due southeast of Kirkland Lake in northeastern Ontario. In mid-July the company closed a deal with mid-tier Iamgold (TSX: IMG; US-OTC: IAG) to process historic stockpiles at its Westwood facility roughly 40 km east of Rouyn-Noranda, Quebec.
The toll-milling arrangement focuses on resources that were blasted and mined from the Mirado open pit in the 1980s. Orefinders’ has defined stockpile material totaling 20,742 tonnes grading 4.41 grams gold per tonne for nearly 3,000 contained oz.
The company will deliver a minimum of 25,000 tonnes to Westwood, and is currently upgrading roads at Mirado to allow 40-tonne truck access. Iamgold has agreed to mill the shipment in a non-blended, continuous batch and pour a dor bar for sale to its contracted refinery. Metallurgical testing indicates 92.3% gold recoveries for the stockpiled material.
The Westwood facility is located on the Doyon property roughly 40 km east of Rouyn-Noranda, and 80 kilometres west of Val d’Or, in southwestern Quebec, Canada.
“The past six months we’ve been focused on the stockpiles, and our ability to generate some cash flow. That’s a very important part of our strategy, but we’re also thinking about the big picture,” explained president and CEO Stephen Stewart during an interview.
“This is really a means to an end because it allows us to bring some non-dilutive cash into the company, which in turn could lead to putting the open pit back into production. The big picture, however, is the exploration upside.
Orefinders intends to reinvest the proceeds from its initial toll-milling deal to evaluate the re-start of operations and Mirado’s open pit, and to kick-start exploration on the property.
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PS; Intera could cash in $35 to $40 million next year ? With no "Dilution"
Go Eastmain Go,, wish I owned some !
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