Heliostar Metals Ltd. (TSE:HSTR) has released an update.
Heliostar Metals Ltd. has announced a non-binding letter of intent for a US$20 million debt facility to fund the Ana Paula Project’s advancement, with a focus on reducing equity dilution. The funds will be used for developing the underground infrastructure, conducting test mining, and processing a bulk gold sample, with the goal of repaying the loan through gold sales within 30 months. CEO Charles Funk expresses optimism about the project’s progress towards its first gold production set for 2025.
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