LionGold Corp signs framework deal with CBMI Construction on mining collaboration

LionGold Corp has signed a framework agreement with CBMI Construction Co as a first step for LionGold to appoint CBMI as its primary contractor for the group's gold mining projects globally.

CBMI is a wholly-owned subsidiary of China's state-owned Sinoma Group Corp and a leading integrated engineering contractor.

Under the agreement, CBMI would work in partnership with LionGold in project and related infrastructure development, mine operation and maintenance and procurement of supplies.

The agreement also provides a platform for collaboration on new gold investment opportunities as well as project financing.

LionGold recently announced plans to raise over $200 million through the placement of new shares and warrants in support of its acquisition and production enhancement strategy.

Management is targeting the completion of the fund-raising exercise by the end of the end.

LionGold currently has interests in seven gold companies with tenements in Australia, Ghana, Bolivia and Canada.