Northern Vertex advances Moss with a little help from its friends

Money doesn’t seem to be a problem these days for junior Northern Vertex Mining (TSXV: NEE), which is in the midst of building a US$33 million open pit mine complex at its Moss gold project in northwestern Arizona, and expects to pour its first gold in the fall of 2017. In fact, Northern Vertex is sitting on about US$10 million in cash, after recently closing a US$7.35 million convertible debenture offering, securing a US$20 million senior secured credit facility from Sprott Private Resource Lending, and a further US$8.5 million for equipment finance is under negotiation. Ken Berry, Northern Vertex’s president and CEO, says the company is already placing orders for some of the equipment – like the crusher, conveyors, and agglomeration unit – which should be delivered in March or April of next year, with construction to be completed in June or July 2017. It is also in the midst of putting together its Merrill-Crowe facility, which will produce doré bars at site. Read the entire story at The Northern Miner.