10.7 C
London
Friday, March 29, 2024
HomeFinTechCalidus Resources: Secures $110M loan for Warrawoona

Calidus Resources: Secures $110M loan for Warrawoona

Date:

  • Calidus Resources (CAI) has locked in a $110 million debt facility for its Warrawoona Gold Project in WA
  • The gold explorer has signed an agreement with Macquarie Bank (MBL) to help it fund the construction of a plant at Warrawoona
  • It’ll have just over three years to repay the loan once repayments begin in June 2022 — with the added option to repay early
  • As part of the agreement, Calidus has also agreed to hedge approximately 25 percent of forecast production, equal to 105,000 ounces of gold
  • Additionally, security will be provided via a fixed and floating charge over the assets of its subsidiary Keras Gold
  • The loan agreement between Calidus and Macquarie is due to finalized early next year

Related stories

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img