- Write by:
-
Wednesday, March 11, 2020 - 3:35:22 PM
-
542 Visit
-
Print
Mining News Pro - Emerald Resources has inked a $60-million credit agreement with Sprott Private Resource Lending to finance its Okvau gold project, in Cambodia.
According to Mining News Pro - “We are extremely pleased to have executed this credit agreement which is the culmination of a thorough and collaborative process by the team at both Emerald and Sprott,” said Emerald MD Morgan Hart.
“With the execution of the agreement and a clear path for financing, we look forward to achieving our goal of becoming the first modern large-scale Cambodian gold producer in the second quarter of 2021.”
The Okvau debt facility has also provided Emerald access to a $100-million acquisition and development facility to fund future development and acquisition opportunities, Emerald said on Wednesday.
Financial close and first drawdown of the debt facility remains subject to customary conditions, including the execution of all facility documentation and the perfection of security, which is expected by the end of the first quarter this year.
The Okvau project is expected to require a capital investment of $98-million to develop a two-million-tonne-a-year operation delivering about 106 000 oz of gold, over an initial mine life of seven years.
Short Link:
https://www.miningnews.ir/En/News/500623
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...