1990s ; second , the project is ideally located for year-round exploration or operations ; third , with significant infrastructure already in place construction of mine facilities could fit into an aggressive schedule , and finally , Jim O ’ Rourke is an experienced mine builder , having built seven mines around the world .” The company did take some calculated risks by ordering the mills and other long-lead items at the earliest possible date , in order to bring the mine into operation on a tight schedule . Much of the mining fleet has arrived at site and is currently being assembled to meet the preproduction mining schedule .

Financing a mine can be an intimidating task for a micro-cap junior , but financing this $ 438 million project was made easier by partnering with Mitsubishi Materials Corp . ( MMC ).

MMC agreed to acquire a 25 percent interest in the project and a life of mine off-take agreement , through a $ 29 million payment , 25 percent of project costs and arranging for project debt financing . MMC is arranging project debt financing through a consortium of Japanese commercial banks and the Export Credit Agency , the agreements for which are anticipated to close near the end of May .

Creating value

The mine will create about 260 fulltime jobs when it goes into operation next summer , fueling a new era of prosperity for the town of Princeton .

The mine will also benefit the local first nations and most levels of government , in addition to the normal spin-off jobs related to mining

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