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Wednesday, 28th July 2004 (7336 views)

A new loan and agreement has been signed for Bema Gold Corporation.<BR/><BR/>The mining firm will use the $60 million bridge loan towards continued development of its Kupol project, located in north eastern Russia.<BR/><BR/>Exploration began earlier this year, with 57,000 metres of exploration and drilling planned as well as earthworks for mine facilities.<BR/><BR/>Repayment of the loan will be partly made with proceeds from the Kupol project, with 21,700 metres of drilling already completed.<BR/><BR/>Following previous assessments the project was declared to be a high grade and low cast gold and silver mine and a final study is due for completion in March 2005.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3121152"/>

 

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