Dual-listed Pure Gold has kickstarted development of the Madsen underground mine and has set a target of producing its first gold from the Ontario operation by the end of next year. The construction decision, announced on Wednesday, comes as Pure Gold secured $90-million in project financing from Sprott Resource Lending. The financing, which is enough to fully fund the cost to develop an underground mine, comprises a credit facility of $65-million and a $25-million callable gold stream.
