Electra Gold (ELT-V) has raised sufficient funds to begin processing tailings at a Newfoundland mill owned by Ming Minerals.
The project hinges on a rental agreement with Eastern Meridian Mining (EME-A), which owns 70% of Ming, whereby Electra will pay Eastern Meridian $45,000 per month during a 3-month testing phase and $4 per ton of material during regular operation. Electra is responsible for costs incurred in modifying or maintaining the mill, and expects to produce 880,000 tons of copper-gold concentrate.
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