Rouyn-Noranda-based Novender (ME) is busy raising money to finance a 10,000-ton bulk sample at its Nugget Pond gold property in Baie Verte, Nfld.
A $1.1-million private placement has been completed, as has the first closing of a $2.2-million public placement. So far, the junior has raised $1.5 million, and the balance of $658,000 is expected to be in place by mid-November.
Road construction to the property is near completion, and contract mining and ramp construction should begin in late November.
The deposit contains 458,000 tonnes at an uncut grade of 0.42 oz. per ton.
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