The amended agreement provides for the continuation of Harte’s strategic review process, first initiated in June 2021.
The troubled gold miner operates the Sugar Zone mine in Ontario, which entered commercial production in 2019 and is estimated to have mine life of approximately 13 years.
Earlier this year, the company lowered its full-year production guidance by 10,000 ounces to 50,000-55,000 ounces, but cautioned that this target may not be achieved without additional funding.
Harte Gold’s stock was down 9.0% by midday Friday on the latest development, giving the company a market capitalization of C$48.2 million.
