on Grande Portage Resources Limited (CVE:GPG)
Grande Portage Partners with Ocean Partners for New Amalga Gold Project
Grande Portage Resources Ltd. has established a strategic partnership with Ocean Partners UK Limited to advance the New Amalga Gold Project in Southeast Alaska. This alliance includes a commercial offtake agreement covering up to 100% of production for the first seven years, a CAD$6 million equity investment, and a USD$25 million construction loan with an overrun facility.
The agreement not only provides financing but also positions Ocean Partners as Grande Portage's second-largest shareholder. Additionally, the loan will support late-stage construction, working capital, and cost management, alongside flexible termination rights in the offtake agreement.
Development is underway with environmental studies and federal reviews, aiming for construction by 2029 and initial production in 2031, setting a path for the mine's emergence as a key gold producer.
R. E.
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