PERTH (miningweekly.com) – Gold hopeful RNI on Wednesday told shareholders that it had received various financing proposals for its Grosvenor project, in Western Australia.
The company noted that the proposals included the financing required to bring the Grosvenor project into production, as well as to repay RNI’s existing debt facility with Taurus Resources No 2 Fund, which is worth some A$19.5-million.
Previous studies have estimated that the Grosvenor project could have an eight-year mine life, with the 1.4-million-tonne-a-year operation producing about 545 000 oz/y of gold. The project was estimated to have a net present value of A$103-million and earnings before interest, taxes, depreciation and amortisation of A$260-million.
RNI said on Wednesday that the various proposals were currently being assessed by the company as part of an ongoing engagement with potential financiers.