Toronto-listed Dayton Mining has announced a $34-million equity financing, which will be used in conjunction with a US$50-million bank underwriting, to develop a heap-leach mine in central Chile.
Construction of the gold project, near the town of Andacollo, is to begin shortly, with annual production estimated to be 125,000 oz. at $175 per oz. Proven and probable minable reserves stand at 30.7 million tons grading 0.035 oz. gold per ton.
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