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Diamond Fields Resources Inc ( (TSE:DFR) ) has provided an update.
DFR Gold Inc. has initiated a feasibility study for its Cascades Gold Project in Burkina Faso, aiming to develop a mining operation with an annual production target of 20,000 to 30,000 ounces of gold. To support this initiative, the company has secured a US$1,000,000 loan from major shareholders, Spirit Resources SARL and Brian Kiernan, to fund the feasibility study, working capital, and exercise the Wuo Land option. The loan is unsecured, bears an 8% interest rate, and is repayable by June 2026. Additionally, repayment of prior loans has been deferred to June 2026, providing the company with financial flexibility to pursue its strategic goals.
More about Diamond Fields Resources Inc
DFR Gold Inc. operates in the mining industry, focusing on gold exploration and development. The company is currently engaged in projects in Burkina Faso, aiming to establish a mining operation with a production target of 20,000 to 30,000 ounces of gold per annum.
Average Trading Volume: 115,523
Technical Sentiment Signal: Sell
Current Market Cap: C$3.05M
See more data about DFR stock on TipRanks’ Stock Analysis page.