Gascoyne mandates banks for debt financing
PERTH (miningweekly.com) – Gold developer Gascoyne Resources has mandated the Commonwealth Bank of Australia and the National Australia Bank to arrange a debt facility of up to A$60-million to fund the development of the Dalgaranga gold project, in Western Australia.
“Mandating tier 1 Australian lenders for the debt funding required for the development of Dalgaranga is a strong vote of confidence in the project and the work undertaken by the Gascoyne team since we finished the feasibility study in November last year,” said Gascoyne MD Mike Dunbar.
“With the mandate completed, construction will continue on schedule towards production in the second quarter of next year.”
The Dalgaranga openpit operation is expected to deliver 623 000 oz of gold over the six-year mine life, with the project expected to require a capital spend of A$86-million.
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