Panama: $16.5 million for Mine Gold

In a press release, the company explained that it used $1 million bridge loan in order to complete the 45 day due diligence required to buy a stake of up to 60% in the mining project.

Golden Phoenix, based in Nevada, also signed a framework loan of $15.5 million, backed by the output of gold from the project, which will enable it to accelerate the funding and development of the mine.

Source: MarketWatch.com

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Canadian corporation Petaquilla Minerals, owner of the gold Mine Molejón, placed shares for $11.5 million.

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