Sixty North Gold Secures CAD $3.6M to Restart High-Grade Mon Gold Mine
Sixty North Gold Mining has closed a CAD $3.6 million project financing, clearing the path to restart operations at its high-grade Mon Gold Mine in Canada’s Northwest Territories.
💰 Financing: CAD $3.6M term loan from Vesta Wealth Partners
🏭 Use of Funds: Install & commission a 100-tonne-per-day mill; move toward first gold production
📊 Terms: 12% interest, 36-month term, no principal payments until Dec 2026
🪙 Royalty: 2.5% NSR on Mon Gold Mine (buyback option up to $5M)
With gold prices near historic highs, restarting a high-grade, past-producing mine gives Sixty North strong leverage to the gold cycle—though royalties and warrants mean investors should watch dilution and margins closely.
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