Mineral and Financial Investments said associate Golden Sun Resources (GSR) has arranged a US$10mln streaming finance package to build a heap leach plant at BellaVista gold mine in Costa Rica.
Terrasun Resources, GSR's exploration subsidiary, is also likely to be spun out to GSR shareholders in due course, to make it the largest mining and exploration group in Costa Rica.
As part of the streaming deal, which is with Canadian group Sprott, MFI has swapped its convertible loans in GSR into ordinary shares and holds a 5.2% stake.
Construction of the new carbon-in-leach mill began in December and should be completed in March 2024, MFI added.
Shares in MFI rose 14% to 13.5% to 21p, a new five-year high.