The funding will be subject for execution of definitive documents due diligence and customary closing conditions.
Pure Path also purchased the remaining $2m mortgage on the Tonopah property in December 2011, to prevent the original mortgage holder from foreclosing.
The company will used the funding to satisfy existing liabilities, purchase equipment and operating capital associated with the Amargosa facility.
The firm build out a third facility to serve as a state of the art analytical lab and hydro metallurgical recovery plant in Nevada conduct National Instrument 43-101 studies at various properties and general working capital.
Pure path CEO Sharon L.Ullman said that they are excited about what this financing opportunity represents for Standard Gold.
Standard Gold’s primary focus is to provide toll milling and other custom milling and refining services for the extraction of precious minerals.
