ENP Newswire -
Release date- 10062014 -
The Lenders are comprised of
The maximum term of the Facility is eight years and the interest rate is based upon the 3-month LIBOR rate, which based on current parameters would be 6.3% for the Tranche 1 facility and 6.8% for the Tranche 2 facility (if drawn). There will be no gold hedging requirements or other similar provisions associated with the Facility.
Under the Facility, the Company is obligated to fund an additional
The cost to complete the Project, including interest during construction, working capital, and transaction costs is expected to be
The Company proposes to fund the additional
In connection with the Placement, the Company will pay eligible arm's length person(s) a cash fee of 5% of gross proceeds raised. The Placement is subject to conditions including, without limitation, receipt of all regulatory approvals, including the approval of the
The Project remains on schedule to achieve commercial production in mid-2015. We expect the mine to produce well in excess of
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in
The Company is being advised on the debt financing by
Offering advice in project, corporate and debt capital markets; equity-linked financings; mergers and acquisitions and strategic business development over more than two decades,
This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as 'plans,' 'expects,' 'is expected,' 'budget,' 'scheduled,' 'estimates,' 'forecasts,' 'intends,' 'anticipates,' or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Such factors include, among others, the receipt of applicable regulatory approvals, closing of the Project Loan Facility and the Private Placement Offering, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled 'Risk Factors' in the Company's annual information form.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Tel: (416) 628-5936
Fax: (416) 628-5935
Most Popular Stories
- James Foley Beheading Video Is Real Thing: White House
- McDonald's Packages Coffee for National Distribution
- Apple Stock Bounces Back Big Time
- Faith Groups Divest From Fossil Fuels
- Notes From the July FOMC Meeting
- Castro-Blanco Joins Fifth Street Finance Board
- Honda's Safe Approach Pays Off in Sales
- Ballmer Steps Down From Microsoft Board
- GE Healthcare Bringing Jobs to Massachusetts
- Target Slashes Annual Profit Outlook