https://www.miningweekly.com
Flow|Gold|PROJECT|Flow
Flow|Gold|PROJECT|Flow
flow-company|gold|project|flow-industry-term

Gran Colombia prices $300m notes offering

An aerial image of the mining camp set up at the Toroparu project, in Guyana.

The Toroparu project, in Guyana.

5th August 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Latin American miner Gran Colombia Gold has announced that it will raise $300-million in a notes offering to fund the development of the Toroparu project, in Guyana.

The TSX-listed company on Wednesday announced that it had priced an oversubscribed offering in senior unsecured notes due 2026 at a coupon rate of 6.875%.

The proceeds from the 2026 notes would be used to fund the development of the Guyana operation, repay the remaining gold-linked notes and for general corporate purposes.

Fitch Ratings and S&P Global Ratings have assigned the 2026 notes a rating of B+.

According to the June 2019 preliminary economic assessment, Toroparu will produce 4.5-million ounces of gold over a 24-year mine life. Production will average at 187 500 oz/y over the life-of-mine and 147 600 oz/y over the first ten years of production.

Preproduction capital has been estimated at $378-million, with a $272-million preproduction financing requirement.

The $232-million Phase 2 expansion can be financed from internal cash flow.

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.141s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: