The Nomad Gold Stream has now been fully completed and no further quarterly gold payments are due in respect thereof. As a result, over 300 additional ounces of gold produced at Mercedes per month will now be fully available for sale by the Company.
Eric Caba, President and CEO of Bear Creek, states, “The Restructuring Agreement is a major milestone for Bear Creek. Together with our recent agreement with Equinox Gold to refinance the Mercedes Deferred Payment, we have removed all near-term debt maturities through September 2028. This greatly improves Mercedes’ ability to re-invest in the long-term success of the mine via the exploration potential that we see at Mercedes and return our focus to the advancement of the Company’s Corani project in Peru, our cornerstone asset.
Kootenay’s President & CEO, James McDonald states, “We are very pleased with the progress so far. I am encouraged to see the strongly mineralized D-Vein encountered as expected in these holes and significantly wide halos of stockwork mineralization that adds to the potential to increase known mineralization more quickly along this structure. We are awaiting assay results and will report on them when received and compiled.”
“Once complete, the combined business will be unlike any gold and copper mining investment available in the markets today. Newmont and Newcrest shareholders will own a world-class portfolio of gold and copper assets featuring 10 large, long-life, low cost Tier 1 operations representing more than half of the world’s Tier 1 gold mines.”
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