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Sixty North Gold Mining secured $3.6 million to restart its Canadian gold mine, aiming to become the region’s sole operating mine.
Sixty North Gold Mining has secured a $3.6 million term loan from Vesta Wealth Partners to restart its high-grade Mon Gold Mine in Canada’s Northwest Territories, aiming to become the region’s only operating gold mine.
The funding, carrying 12% interest and no principal repayments until December 2026, includes warrants, a 2.5% royalty, and board representation.
The mine, previously producing 15,000 ounces from 15,000 tonnes at 30 grams per tonne, will expand its North Ramp and develop stopes to feed a 100-tonne-per-day mill.
Additional exploration is planned, with progress dependent on permitting and market conditions.
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Sixty North Gold Mining obtuvo $3.6 millones para reiniciar su mina de oro canadiense, con el objetivo de convertirse en la única mina operativa en la región.