True North Gems (TGX) has secured C$5.3m via a share subscription agreement with Greenlandic private equity/venture capital firm Greenland Venture (GV). This financing effectively completes Aappaluttoq’s mine construction financing, paving the way to first production (expected Q415). A key near-term catalyst remains – sales agreements for Aappaluttoq’s ruby/pink sapphire output – the first of which are expected by year end.
