Impact: Positive
EDM Resources provided an update on the company’s activities, confirming that it has been working on several initiatives to re-start operations at its 100%-owned Scotia Zn-Pb-Gypsum (Gp) project near Halifax, NS. With US$24M in financing secured, EDM is fully funded to commercial production (Q4/23) and is working with its loan provider to satisfy all conditions to begin drawing down on the debt facility by Q1/23. We are pleased to see EDM making progress on its PFS-stage project located in a Tier 1 jurisdiction which is close to all required infrastructure for a future mining operation.