Harte stated it must droop operations if it didn’t get an infusion of money earlier than the top of the yr. In November, Silver Lake acquired $63.3 million in credit score amenities prolonged to Harte by BNP Paribas, and agreed to mortgage the miner $10.8 million.
BNP has entered right into a help settlement with Silver Lake to help its stalking horse bid.
The Sugar Zone mine produced 15,260 oz. gold in the third quarter, up from to 11,283 oz. In the earlier quarter, and 6,218 oz. in final yr’s third quarter.
In January, the corporate launched a feasibility examine supporting the growth of the mine to 1,200 t/d from 800 t/d.
(This text first appeared within the Canadian Mining Journal)