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Talamore clears final permit for Coffee gold project road in Yukon
The 214-km all-season road approval removes the last major infrastructure hurdle before a planned construction decision in early next year.
Talamore Mining secured the remaining major permit needed to build a 214-km all-season road to its Coffee gold project in Canada’s Yukon Territory, clearing an infrastructure hurdle ahead of a planned construction decision early next year, Mining.com said.
The permit supports construction of about 29 km of new road linking existing sections of the Northern Access Route from Dawson City, with about 180 km already in place. The company has said the road may cost C$71.3 million, according to a preliminary economic assessment.
Talamore is backed by a C$638-million project financing package assembled in July, including C$400 million in secured debt led by a syndicate, and C$149.5 million in equity financing led by Stifel Canada and BMO, plus up to $88 million from warrant exercises.
The company still needs approvals for a quartz mining licence and a Type A water licence before mine construction can proceed. Public comment on the water licence is scheduled to close Sept. 15, while the quartz mining licence is nearing the end of its detailed information-request phase, Mining.com added.
Latest closeGold $4,504.10 ▼2.3%|Coffee $312.60 ▼8.6%