- Dateline Resources (DTR) secures an offtake agreement for 100 per cent of gold concentrate from its Gold Links mine in Colorado
- The agreement was secured with multi-national commodities group, IXM, and will last for 18 months
- The first delivery of concentrate and payment of $1.5 million is expected in the June quarter
- Additionally, the company received firm commitments to raise $4 million through a placement to fund further growth at its US-based projects
- Shares are trading 18.6 per cent lower today at 12 cents each at 12:49 pm AEST
Dateline Resources (DTR) has secured an offtake agreement for 100 per cent of gold concentrate from its Gold Links mine in Colorado.
The agreement was secured with multi-national commodities group, IXM, and is for 18 months.
The first delivery of concentrate and payment of $1.5 million is expected in the June quarter.
Managing Director Stephen Baghdadi said this achievement is the culmination of years of hard work.
“Whilst we have achieved this first sales milestone, we have more to achieve at Gold Links as we expand exploration, increase mining and processing, and ramp up production over the remainder of 2022,” he said.
To assist with further growth, the company has received firm commitments to raise $4 million through a placement for its US-based projects.
A total of 40 million new shares will be issued at a price of 10 cents each, representing an 18 per cent discount to the 15 day volume weighted average price.
The new shares are not subject to shareholder approval and will be issued under the company’s placement capacity.
Shares were trading 18.6 per cent lower today at 12 cents each at 12:49 pm AEST.