Mining company Roxgold reported financial and operational results at its Yaramoko gold project in Burkina Faso. It completed 63% of construction works, and is on track for first gold pour in second quarter of 2016.

To achieve this, the firm spent in 2015 about $57 million out of a total of $110 million. Indeed, to fund the project, Roxgold negotiated a $75 million credit line from BNP Paribas, Société Générale Corporate and Investment Banking. It got $51 million from the credit line in 2015 and $5 million from African Underground Mining Services ("AUMS").

It completed a 55 zone infill drilling program which supported the feasibility resource model and corroborated high grade and continuous nature of the zone. It also discovered a new mineralized domain in Southern Bagassi and extension of the QV1 mineralization.

Moreove, the firm got the mining decree and approved mining convention, for the Yaramoko project, under the Burkina Faso Mining Code.

Roxgold owns 90% of exploration licence, covering 167 km2, at Yaramoko, on the Hounde rock belt.

Louis-Nino Kansoun