Finance > Project-finance

Sprott backs WA gold project

Sprott Private Resource Lending is providing US$27 million of debt funding for development of Kin Mining’s 1.3 million ounce Leonora gold project in Western Australia. The deal, on “competitive and favourable” terms, gives Kin “the trifecta”, according to managing director Don Harper.

Staff reporter

Finance > Project-finance

Sprott backs WA gold project

Sprott Private Resource Lending is providing US$27 million of debt funding for development of Kin Mining’s 1.3 million ounce Leonora gold project in Western Australia. The deal, on “competitive and favourable” terms, gives Kin “the trifecta”, according to managing director Don Harper.

Staff reporter

Sprott backs WA gold project

The Leonora gold project features the old Mertondale (above)

"We have the plant, the funding, and we are getting some brilliant exploration success," Harper said after Kin announced it had signed a binding term sheet for the A$35 million senior secured credit facility. The company is aiming to be in production late next year.