On a good note Magino in production by end of Q123. Argonaut intends to use the proceeds of the facilities to refinance its existing debt and for general corporate purposes, including ongoing development and expansion capital of the Magino project in Ontario, Canada and other producing assets.
“Magino is a long life, low cost mine in an outstanding mining jurisdiction,” said Larry Radford, President and CEO of Argonaut.
“This debt financing arrangement, along side the proposed equity financing, will put Argonaut Gold in a strong financial position to complete the Magino project and move it forward into production by the end of Q1 2023,” he added.