Greatland Gold secures A$340m funding for Haverion project - Investor Magazine13 Sep 2022 07:43
Greatland Gold shares gained 11.2% to 9.2p in late afternoon trading on Monday, after the mining company secured A$340 million in funding for its gold-copper Haverion deposit in Australia.
The group reported the funding enabled it to fully fund its 30% share of the Haverion development, of which Newcrest holds the additional 70%.
Greatland Gold confirmed the project’s estimated value in excess of $1.2 billion, which is currently in development under a joint-venture with Newcrest Mining, the largest Australian gold producer.
The gold mining group signed a Commitment Letter, including a term sheet, for a A$220 million seven-year term, self arranged debt syndicate with HSBC Bank, Australia and New Zealand Banking Group and ING Bank in advance of its finalised feasibility study later in 2022.
Meanwhile, privately owned metals company Wyloo Metals also contributed an initial strategic equity subscription of A$60 million, with a potential further A$60 million in the future.
Greatland Gold confirmed it also intended to seek secondary dual listing on the Australian Stock Exchange to increase liquidity...
https://ukinvestormagazine.co.uk/greatland-gold-secures-a340m-funding-for-haverion-project/