I would asume the bond has not been posted no PPThe proceeds of the private placement will be used for several planned cost. towards theMost importantly partial capital will go posting of the bond on the upcoming North American Gem #3 Mine (Swan Pond Lease; Application permit number #861-0502). This will activate the mining permit and allow NAG to begin production using KMP as the mining operator.
Additional capital will go towards building infrastructure at the North American Gem #3 Mine site, potential acquisitions and bonding, additional upgrading for the North American Gem Processing Facility (Mine Permit #861-8012), building of access roads onto permitted leases and general working capital.