Arizona Gold Corp.(TSX: AZG / OTC: AGAUF) Targeting Production in Q4-2021
Highlights
- AZG is preparing to recommence production at its Copperstone gold project in Western Arizona.
- In November 2020, the company closed a US$18M project financing through a streaming agreement. US$12M has been received to date. This financing allows the company to advance to production with minimal share dilution, as the CAPEX estimate to production is US$23M.
- AZG is currently completing an 8,000 m open-pit and underground resource expansion drill program, which will be followed by an updated resource estimate in Q2-2021. The updated estimate will also include results of a successful 5,000 m drill program in 2019. We are expecting a significant increase in tonnage and ounces.
- We are continuing to run our models based on a 10-year mine life. According to management, the streaming agreement was also valued based on 10 years.
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