ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has announced the successful closure of a private placement funding effort, raising $3,649,171 to finance its upcoming mine tailings cleanup and reclamation project. The funding, which was oversubscribed by more than 11%, underscores investor confidence in ESGold's strategic approach to generating revenue through environmental reclamation and resource recovery.
The company, which holds 265 mining claims on the historic Montauban mine site in Quebec, plans to begin mill circuit production on the tailings cleanup later this year. This project not only aims to clean up abandoned mine tailings but also to repurpose mica recovered during the process into a construction material stronger than concrete. This innovative concentrate could be used for making bricks, parking columns, and highway Jersey barriers, offering a sustainable solution to mine waste.
Paul Mastantuono, CEO and Director of ESGold, highlighted the oversubscription of the offering as a testament to the investors' belief in the company's near-term production goals. The project represents a significant step forward in addressing environmental concerns associated with mining activities while creating value from what was previously considered waste.
For more information on ESGold's initiatives and updates, investors can visit the company's newsroom at https://ibn.fm/ESAUF.
