Top shareholder AngloGold Ashanti provides Corvus Gold with $20M funding for Bullfrog
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(Kitco News) - Corvus Gold (TSX:KOR) said today that AngloGold Ashanti North America committed $20 million loan to fund the ongoing permitting and pre-development work at the Corvus’s North Bullfrog project as well as ongoing exploration at its Mother Lode and Lynnda Strip projects.
AngloGold is already a top shareholder holding 19.7% of Corvus.
In its preliminary economic assessment, Corvus highlights a pre-tax cash flow of $763M with a 55% IRR at a $1,500 gold price.
Bullfrog is located in southern Nevada.
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