CONTINENTAL GOLD (TSX: CNL; OTCQX: CGOOF) is a development-stage gold mining company. With a first mover advantage in Colombia, the Company has a portfolio of high-grade and high impact exploration and development properties. The Company’s flagship Buriticá project is a high-grade and multi-million-ounce precious metal project boasting mineral reserves of 3.7 million ounces at 8.4 g/t gold (13.7 million tonnes), with production scheduled for early 2020. Newmont Mining recently invested US$109 million at a 46% premium to market to purchase a 19.9% interest and as a result, the Company is well funded to initiate construction of the Buriticá mine and initiate aggressive drill programs throughout its portfolio of properties.
What Differentiates Us
The Company´s 100%-owned, fully-permitted flagship high-grade Buriticá project is a rare combination of size, grade, straightforward metallurgy, excellent infrastructure and growth potential. On February 24, 2016, the Company released the results of an independent Feasibility Study that indicates the Buriticá project will be a lowest quartile cost producer and an economically robust mine with modest initial capital expenditure. Once in production, Buriticá has the potential to approximately double the formal production of gold in Colombia and become the largest single gold mine in the country.
In association with various government entities in Colombia, the Company was the first in the country to formalize small-scale mining associations, paving the way for the implementation of legal and responsible small-scale mining operations at the Buriticá project. In addition, the Company has operated a 30 tpd small-scale mine at Buriticá since 2007 and is one of the largest employers in northwestern Antioquia. The Company focuses on providing a safe working environment and partnering with the local communities on key social projects.