upcoming mining journal research

Add new layer of intelligence to your investment decisions Publication of the Mining Journal World Risk Report (feat.MineHutte ratings) is the culmination...

EYEBROW

29 September 2017
Test edition
Test edition

Summary of this Test edition

EYEBROW

26 September 2017

upcoming mining journal jobs

Preaching from the pulpit

Are the days when of CEO hypocrisy coming to an end?

Majors edge lower

Copper, iron ore prices down

Skyharbour upbeat on uranium market and exploration

Exploration kicks off by company and option partners

Leagold plans Brio takeover

Unveils plans for a US$264 million all-scrip offer

upcoming mining journal events

SEG 2017 Conference, Ore Deposits of Asia: China and Beyond

Detailed Event Info: The Organizing Committee is pleased to invite you to the SEG 2017 Conference, Ore Deposits of Asia:...

Finance > Project-finance

Sprott backs Trek trio in US$285 million step

Soon-to-be-merged Trek Mining (CN:TREK) says it has entered a funding agreement with Sprott Private Resources worth up to US$285 million, to build a gold mine in Brazil and for future developments and acquisitions.

Staff reporter

Finance > Project-finance

Sprott backs Trek trio in US$285 million step

Soon-to-be-merged Trek Mining (CN:TREK) says it has entered a funding agreement with Sprott Private Resources worth up to US$285 million, to build a gold mine in Brazil and for future developments and acquisitions.

Staff reporter

Sprott backs Trek trio in US$285 million step

Aurizona development fully funded

Trek's move to create a new company, Equinox Gold (CN:EQX) which is being formed through an all-stock takeover of NewCastle Gold (CN:NCA) and Anfield Gold (CN:ANF), is expected to close this week.

Trek said its subsidiary had entered a credit agreement with Sprott, which would provide $85 million to construct the Aurizona gold mine, and up to a further $200 million to fund future acquisitions and developments, which could include NewCastle's Castle Mountain gold project.

"With the credit facility now in place and the Equinox Gold merger set to close this week, construction of Aurizona is fully funded," Trek CEO Christian Milau said.

The new Equinox board will meet in January, where it is expected to approve Aurizona's construction, and Milau said the project was on track to pour first gold in late 2018.

The company received the final key permit needed to build Aurizona last month.

The first advance of $15 million in the five-year $85 million facility has been made, Trek said.

The past-producing Aurizona mine has an expected 136,000 ounce annual production over a mine life of 6.5 years at all-in sustaining costs of $754/oz.

topics

loader