Compass Gold Corp - Mining Stock Analysis & Updates
Latest News and Market Performance for Compass Gold Corp
Perm ID: 1-5064525677
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Compass Gold on Track to Commence Production at Massala Within the Next 60 Days
Compass Gold Corp. is nearing completion of its SMAT processing facility upgrade to start gold production at the Massala prospect in Mali. Environmental studies will finish soon, and they expect to receive a Small Mining Permit, allowing for up to 160,000 ounces of gold production over four years, aimed at benefiting the local economy and shareholders.
Compass Provides an Update on the Massala Small Mine Permitting Process
Compass Gold Corp. has completed a project viability study for its Massala prospect in Mali and plans to begin bulk sampling in February 2025. This will aid in optimizing plant design and support a Small Mine Permit application, aiming for commercial production by early Q2.
Compass Announces Completion of Fully Subscribed Convertible Debenture Offering
Compass Gold Corp. announced the completion of a private placement, issuing 610.5 convertible debenture units for $610,500. Proceeds will fund mineral exploration at Tarabala in Mali. Insiders purchased 30 units, exempt from certain regulations.
Compass Announces Fully Subscribed Convertible Debenture Offering
Compass Gold Corp., based in Toronto, Ontario, plans to issue 600 convertible debenture units at $1,000 each in a non-brokered private placement, aiming to raise $600,000. The company has secured full commitments for this offering, which is expected to close by November 30, 2024. The proceeds will be used to fund mineral exploration at Tarabala in Southern Mali and development of a small gold mining operation. Each debenture unit includes a $1,000 unsecured convertible debenture and 5,000 common share purchase warrants, each exercisable to acquire one additional common share at $0.18 for 12 months following the closing date. The debentures, bearing
Compass Announces Joint Production Agreement to Commence First Commercial Gold Recovery on Tarabala Trend
Compass Gold Corp. has announced plans to produce gold at the Massala prospect in southern Mali, with production and cash-flow expected for Q1 2025. This follows a joint-production agreement with Malian business group SMAT, allowing Compass to utilize a Small Mining permit and SMAT to update processing components at their facility. The generated cash flow will fund operating cash requirements, convertible debenture repayments, and further exploration and production activities. The agreement is significant as it allows Compass to expedite profitable gold production with minimal capital investment.
