Argonaut Gold’s Board of Directors has approved the construction of the Magino Gold Project! The media release states “Argonaut is also pleased to announce it has received a fixed bid pricing proposal for a significant portion of the initial capital requirement for the Magino project and that it has secured debt financing of up to US$175 million by way of a US$50 million bought deal offering of senior unsecured convertible debentures and the extension and expansion of its existing revolving credit facility (\u201cRCF\u201d) for up to US$125 million.”<\/p>\n
Construction is expected to begin in January 2021 following the closure plan filing and posting of a financial assurance bond with the province. The first gold pour is anticipated during the first half of 2023. The Magino Feasibility Study plans a 10,000 tonne per day processing facility; average annual gold production of 150,000 ounces over the first five years, and a 17-year mine life.<\/p>\n","protected":false},"excerpt":{"rendered":"
Argonaut Gold’s Board of Directors has approved the construction of the Magino Gold Project! The media release states “Argonaut is also pleased to announce it has received a fixed bid pricing proposal for a significant portion of the initial capital requirement for the Magino project and that it has secured debt financing of up to …<\/p>\n","protected":false},"author":1,"featured_media":37706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"class_list":["post-37705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"publishpress_future_action":{"enabled":false,"date":"2026-05-01 12:36:10","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/37705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/comments?post=37705"}],"version-history":[{"count":1,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/37705\/revisions"}],"predecessor-version":[{"id":37707,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/37705\/revisions\/37707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media\/37706"}],"wp:attachment":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media?parent=37705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/categories?post=37705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/tags?post=37705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}