Roxgold secures new round of financing for Yaramoko mine in Burkina Faso

Canada-based Roxgold Inc. said recently that a second draw-down of $21 million has been completed to fund its Yaramoko Gold Project mine in the Houndé greenstone region of Burkina Faso.

The second draw-down was part of a six-year, $75 million financing plan for the project. This round of financing was provided by Societe Generale Corporate & Investment Banking and BNP Paribas.

The project is on-budget, and officials expect gold production from the mine in the second quarter of 2016.

"The progress of development at Yaramoko is very encouraging," Roxgold President and CEO John Dorward said. "With construction now 60 percent complete, I am pleased that we remain on schedule and within budget to complete the mine development and remaining plant facilities. In the coming months, we will be dedicating our attention to operational readiness as we progress toward commissioning the project, as projected, in Q2 2016. "

The mine's underground access tunnel installation and engineering backfill is 60 percent complete. As of Nov. 30, approximately 490 meters of underground development was completed. Workers are in place at the mine's permanent accommodation camp.

The progress of the Yaramoko Gold Project can be followed online at www.roxgold.com.