Artemis Gold Inc
Artemis Gold Inc
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Canadian project developer Artemis Gold has stuck with mineral processing specialist Sedgman with the award of a $C318M EPC contract for its Blackwater gold project in BC.
Sedgman, which entered an interim services agreement at Blackwater in May 2022, will design and construct the processing and non-processing infrastructure for a 6Mtpa CIL plant .
The CIMIC Group company has begun initial design and procurement work with Artemis as it works towards its first gold pour in 2024.
Global mineral processing/infrastructure supplier CIMIC Group company Sedgman has entered into an interim services agreement (ISA) with Artemis Gold for works at the Blackwater Gold Project in British Columbia, Canada.
Artemis Gold has terminated the award of the EPC contract for its 100%-owned Blackwater gold project in central BC, Canada after Ausenco Engineering missed the deadline for finalising the project.
The company says it will continue negotiations with other parties on a new EPC contract, while planning to enter agreements within weeks on supply of long-lead equipment.
Canadian developer Artemis Gold is confident it will still meet its capital costs and timeline forecasts for the Blackwood gold project in central BC despite the termination of its plant engineering, procurement and construction contract with Ausenco Engineering.
Global gold miner New Gold has signed a definitive agreement with precious metals streaming major Wheaton Precious Metals to sell the existing gold stream held on the Blackwater Project in British Columbia, Canada, for an upfront $US300M cash.
Blackwater is wholly-owned by Artemis Gold, with New Gold having retained the gold stream as partial consideration for the divestiture of Blackwater to Artemis in Aug 2020.
Burgeoning gold miner Artemis Gold has launched an up to $US156M equity financing to make its final cash acquisition payment to New Gold for its Blackwater Gold Project.
Artemis agreed to buy the Blackwater project in June 2020, a proposed open-pit mine, 160km SE of Prince George, Canada, for $C190M, with initial plans to develop a 248,000oz pa operation, which will cost nearly $600M, and then finance 2 subsequent expansion stages from future operating cashflows.
Increased gold equivalent production from New Gold’s 2 operations in Canada has seen the company post a $US62M turnaround for a Sept 2020 qtr (Q3 20) net earnings jump to $16M from a Q2 20 net loss of $46M.
Explorer/developer Artemis Gold has completed its circa $C225M+ majority cash acquisition of fellow Canadian New Gold’s 100%-owned Blackwater Gold Project, 160km SW of Prince George, BC, Canada.
Artemis Gold has done an up to $C155M of private underwritten bought capital raising deals to fund its $190M+ cash acquisition of the Blackwater Gold Project in British Columbia, Canada, from New Gold.
The proceeds will be used primarily to fund the acquisition with an initial payment of $140M. The bought deal offering and non-brokered offering is expected to close by July 7, 2020.
Explorer/developer Artemis Gold is buying fellow Canadian New Gold’s 100%-owned Blackwater Gold Project, 160km SW of Prince George, BC, Canada, in a $C190M+ cash deal.
Under the agreement, New Gold will get $190M cash via $140M on closing and $50M a year later, along with an 8% gold stream on gold produced from Blackwater, reducing to 4% once 280,000oz has been delivered to New Gold.