The Prospector News

Gowest Announces New $1-Million Debt Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Gowest Announces New $1-Million Debt Financing

 

 

 

 

 

Gowest Gold Ltd.  (TSX-V: GWA) announced that it has entered into a loan agreement with Lush Land Investment Canada Inc. in respect of a bridge loan in the principal amount of $1,000,000 for working capital. The loan matures on October 31, 2022. Interest on the outstanding principal balance shall accrue daily and be calculated, in arrears, at the rate of 10% per annum. The bridge loan may be repaid at any time prior to maturity without penalty. Meirong Yuan, a director of Gowest, holds 25% of Lush Land.

 

Noted Dan Gagnon, Gowest’s President and Chief Executive Officer, “This loan is assisting us as we finalize our review of the revised mining and exploration plans, all in preparation for a near-term restart of operations at our wholly-owned Bradshaw Gold Deposit.”

 

About Gowest

 

Gowest is a Canadian gold exploration and development company focused on delineating and developing its 100% owned Bradshaw Gold Deposit on the Frankfield Property, part of the Corporation’s North Timmins Gold Project. Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

 

Posted November 5, 2021

Share this news article

MORE or "UNCATEGORIZED"


Quimbaya Gold Closes $4 Million Financing and Expands Executive Team

Cornerstone investor brings proven regional track record; company... READ MORE

July 5, 2025

Spanish Mountain Gold Announces Larger Scale Preliminary Economic Assessment With a Base Case NPV5% After-Tax of C$1.0 Billion, 18.2 % IRR and 3.4 Year Payback at US$ 2,450/Oz Gold Price; at US$3,300/Oz Spot Gold Price NPV5% C$2.3 Billion, 32.0% IRR and 2.0 Year Payback; Including an Updated Mineral Resource Estimate for Its Spanish Mountain Gold Project

Spanish Mountain Gold Ltd. (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF)... READ MORE

July 4, 2025

Aura Announces Preliminary Q2 2025 Production Results

Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) is plea... READ MORE

July 4, 2025

Cascadia Announces Closing of Financing

Cascadia Minerals Ltd. (TSX-V:CAM) (OTCQB:CAMNF) is pleased to an... READ MORE

July 4, 2025

Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to anno... READ MORE

July 4, 2025

Copyright 2025 The Prospector News