Trek Mining Inc has announced its Financial Statements for the third quarter ended September 30, 2017 and the accompanying Management’s Discussion and Analysis are available for download on the Company’s website and at www.sedar.com.
Quarterly highlights and recent developments
Announced the signing of a definitive agreement with NewCastle Gold Ltd. and Anfield Gold Corp. to combine the three businesses to form a new multi-asset mining company named Equinox Gold Corp., to be led by Ross Beaty as Chairman
Announced that Sprott Private Resource Lending (Collector), L.P. has received investment committee approval to provide Trek Mining with a US$85 million senior secured credit facility to be used for construction of the Aurizona Gold Mine (“Aurizona”) in Brazil
Completed a feasibility study for Aurizona, supporting the viability of constructing an open-pit gold mine with a net present value of US$197 million and an internal rate of return of 34% based on a gold price of US$1,250 per ounce, and low initial capital costs of US$131 million
Awarded the Aurizona EPCM work to Ausenco Engineering Canada Inc.
Confirmed with exploration drilling that gold mineralization at Aurizona’s principal ore deposit extends at least 350 metres to the west along strike and also at depth below the existing reserve pit. A second phase 12,000-metre exploration drill campaign is underway
Continued ramp-up of the Koricancha Mill in Peru with Q3-2017 sales of 3,195 ounces of gold
At September 30, 2017, the Company had C$76.3 million (US$61.0 million) in cash and marketable securities and no cash debt.
