New Gold puts almost C$25m in Harte Gold
Toronto-listed New Gold has agreed to make a strategic investment in fellow-listed Harte Gold by way of a private placement subscription of 154 940 153 shares at C$0.16 a share.
This will raise Harte Gold gross proceeds of C$24.8-million and provide New Gold with a 14.9% interest in the company’s shares.
“New Gold’s investment represents more than just a significant financing – it is an endorsement of the potential of the Sugar Zone mine and property, and a vote of confidence that Harte Gold’s operational team will continue to deliver on our impending growth strategy,” said Harte Gold president and CEO Frazer Bourchier.
He added that New Gold’s investment was more a catalyst to accelerate development and the future expansion of the Sugar Zone mine, in White River, targeting 100 000 oz/y by 2023.
“We are excited to embark on this relationship,” said Bourchier.
Meanwhile, Harte Gold announced that it had received a nonbinding indicative proposal from BNP Paribas to reschedule about C$50-million of the scheduled amortisation payments under the company’s senior debt facility.
This would provide the miner with more financial flexibility over the next two years.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation