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Maya Gold & Silver seeks to finance the Boumadine mine

Maya Gold & Silver, the Canadian company that operates the Boumadine mine in the Drâa-Tafilalet region, is seeking funding for this project.

Following a preliminary valuation study of the mine, the company appointed CIBC World Markets plc, a subsidiary of Canadian Imperial Bank of Commerce (CIBC), to act as its exclusive financial advisor.

The preliminary evaluation study, conducted by GoldMinds Geoservices Inc., has shown that Boumadine’s project could have a life span of 12 years (2021-2033).

The operation and commissioning of the site is expected to require an investment of $ 89 million. It should be noted that the project belongs to the Maya Mining Company of Morocco (CMMM), a joint venture owned 85% by Maya Gold & Silver and 15% by the National Office of Hydrocarbons and Mines (ONHYM).

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