In an interview with Bloomberg News, Continental Gold Ltd. CEO Ari Sussman says the mining company is preparing to list shares on the Bolsa de Valores de Colombia, with a target of raising roughly $20 million (USD) to increase liquidity and the company’s investor base. The company is working to develop its Buriticá gold project, located in Antioquia.
In May of last year, the company announced estimates 650,000 ounces of gold, and 1,540,000 ounces of silver, as well as 15,000,000 pounds of zinc in the Yaraguá and Veta Sur veins of the Buriticá project, with an estimated total of 4,200,000 ounces of gold, 13,100,000 ounces of silver, and 111,000,000 pounds of zinc ore.
The Buriticá project consists of several vein systems, of which the Murcielagos vein has been worked to a strike length of approx. 470 meters and to a vertical extent of 160 meters. Above Photo Courtesy of Continental Gold
The mine has an estimated net present value of roughly $1 billion US dollars. The mine has an estimated life of 18 years and in the first five years, is expected to produce 314,000 ounces of gold and 507,000 ounces of silver per year.
The mining company announced that it is working with Corantioquia, the authority controlling environmental permit issuance in the Antioquia department where the mine is located, to obtain the necessary production permits.