25.7 C
Belgrade
Supported byspot_img
spot_img

Turkey Alacer Gold Signs $350 Million Project Finance Facility

Member of Europium Groupspot_img
Supported byspot_img

Alacer is a leading intermediate gold mining company, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S., and the remaining 20% owned by Lidya Madencilik Sanayi ve Ticaret A.S.

Alacer Gold Corp. and is pleased to announce the signing of the previously announced $350 million senior secured project finance facility with BNP Paribas SA, ING Bank A.S., Societe Generale Corporate & Investment Banking and UniCredit Bank Austria AG. The Facility has an 8-year term, interest rates of LIBOR plus 3.5% to 3.95%, no mandatory hedging requirements and no early repayment penalties. Advances under the Facility are subject to customary conditions precedent including execution of security documentation. The agreement will be posted on SEDAR.

As part of the continuing de-risking efforts, the Corporation is pursuing a prudent and simple gold hedging program for a portion of the oxide gold production during the sulfide plant construction period. Revenue from gold production during this period will be used to fund the plant construction costs.

Supported by

Cutfield Freeman & Co Limited and Stikeman Elliott LLP acted as advisors to Alacer on the transaction.

source: juniorminingnetwork.com

Supported byElevatePR Digital

Related News

Ukraine’s strategic importance in global critical raw material supply chains amid geopolitical dynamics

Ukraine's role in global supply chains for critical raw materials is increasingly pivotal amidst ongoing geopolitical challenges. These include the Russian invasion of Ukraine,...

Nornickel in talks with China Copper for copper smelting venture in China

Russian mining giant Nornickel is reportedly in discussions with China Copper to establish a smelting facility in China. This joint venture aims to relocate...

Pan Asia Metals secures option agreement for RK Lithium Prospect in Thailand

Pan Asia Metals Limited has taken a significant step forward by securing an exclusive option agreement for the RK Lithium Prospect in Thailand. This...

Critical Metals partners with Obeikan Group to build lithium hydroxide plant in Saudi Arabia

Mining company Critical Metals has finalized a joint venture (JV) agreement with the Obeikan Group to establish a lithium hydroxide processing plant in Saudi...
Supported by
Supported by
Supported by
error: Content is protected !!