Vancouver-based miner Sabina Gold & Silver has announced that it completed the final documentation with Orion Mine Finance and Wheaton Precious Metals to secure a construction financing package of about US$520 million. The funds will allow the business to finance the construction and development of the Goose mine at its Back River Project in Nunavut, Canada.
“This is a major milestone for Sabina,” said Bruce McLeod, the com-pany’s president and chief executive, as quoted in a statement. “We are proud to welcome Orion and Wheaton as significant Sabina eq-uity holders. Their participation in financing the Goose Mine validates the sound exploration, engineering, environmental and community work we have done on the Project and supports our approach to de-velopment of this prolific gold district.”
The Goose mine project’s CAPEX in its most recent feasibility study is US$466 million, Sabina Gold & Silver said.