(MENAFN- ProactiveInvestors)
() is fully-funded for the construction and development its wholly-owned Deflector Gold Project in Western Australia less than a year after taking over former owner .
The Deflector timeline has open pit mining and underground mining commencing in the first half of 2016 with first production scheduled for mid-CY2016.
With Deflector and Andy well operating Doray is targeting 160000pa (Au Eq) with AISC
Funding includes a heavily oversubscribed placement raising $13.8 million which has been completed.
Add to this a underwritten non-renounceable entitlement issue to raise $12.9 million and then will provide corporate finance facilities including up to $65 million new debt funding for Deflector construction.
Deflector is a high-grade gold-copper deposit with an initial mine life of six years and significant exploration potential.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.