BRIEF-TMAC sees Hope Bay project stockpile by Dec 31 at 110,700 tonnes of ore

Thu Aug 11, 2016 6:33pm EDT
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Aug 11 (Reuters) - TMAC Resources Inc

* Use about $23 million of net proceeds from bought deal financing in 2016,with balance of $33.5 million to be spent in 2017 for Hope Bay project

* TMAC continues on track and on budget 18 months into 24 month plan for hope bay's path to production

* "as of this week,we are approximately 87 pct complete with steel erection,wall panelling, roofing of mill building"

* Says "as of this week we are 75 pct complete on floor and plinth concrete pouring" for Hope Bay project

* Sees Hope Bay project stockpile by Dec 31 2016 at 110,700 tonnes of ore, with an estimated 55,600 ounces of contained gold Source text for Eikon: Further company coverage: