Leagold Mining Corporation Closes and Draws New Long Term Debt; Commences Los Filos Expansion
Following completion of the Los Filos Expansion Feasibility Study in March 2019, Leagold continued construction planning and optimized the sequence of the major expansion projects. Leagold decided to proceed with the Los Filos expansion, when the refinancing closes, and to commence construction of the Santa Luz project in first quarter of 2021. In creating the phased development plan, consideration was also given to ensuring the plan was practical and well within Leagold's organizational capacity. Phased implementation: The expansion of the Los Filos mine complex has been organized into three distinct projects which will have staggered start dates. The CIL plant construction is now scheduled to begin in mid-2020, after significant progress with accessing ore at both Bermejal underground and Guadalupe open pit is achieved. The development of Santa Luz is scheduled for first quarter of 2021, after substantial completion of all elements of the Los Filos expansion.