The Vancouver-based firm said it had already received commitments from Queen’s Road Capital Investment and Taurus Mining Royalty Fund to complete a private placement of $40 million of unsecured convertible debentures.
Together with the $100 million term loan previously entered into with Banco Santander Brazil and $14 million raised through gold collars with several financial institutions, Aura Minerals has now secured over $145 million to build the Borborema gold mine, which has an estimated total construction capex of $188 million.
The project consists of three mining concessions covering a total area of 29 km² plus the title to the main area of the prospect.
The mineral exploration rights, covering a total of 410 km², extend along the Borborema mining concessions trend and remain prospective to additional resources, Aura Minerals said.
A definitive feasibility study (DFS) was completed in December 2019 for the first…
