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Pure Gold secures US$90M Sprott financing to build Madsen

Pure Gold Mining has closed a US$90 million project financing package with Sprott Resource Lending to complete the funding needed to build a mine at its Madsen gold deposit in the Red Lake district of Ontario, Canada. The financing follows a C$47.5 million equity raise in July and with the build now fully funded the company has taken the construction decision.

Pure Gold secures US$90M Sprott financing to build Madsen Pure Gold secures US$90M Sprott financing to build Madsen Pure Gold secures US$90M Sprott financing to build Madsen Pure Gold secures US$90M Sprott financing to build Madsen Pure Gold secures US$90M Sprott financing to build Madsen

Madsen in Red Lake, Ontario, Canada

The Madsen feasibility study details an 800 tonne per day underground mining operation to produce 80,000 ounces a year over a 12-year mine life at an initial capital cost of C$95 million (US$71