True Gold Signs $10 Million Equipment Finance Facility
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/11/16 -- True Gold Mining Inc. (TSX VENTURE: TGM) ("True Gold" or the "Company") is pleased to announce the Company has entered into an equipment refinancing facility with Auramet International LLC ("Auramet") for $10 million (all dollar amounts in US dollars).
"Having supportive shareholders and strong finance providers like Franco-Nevada Corporation and Sandstorm Gold Ltd. has been crucial to True Gold''s success. We are pleased to add Auramet as another strong partner. This financing provides an alternative to drawing all of the $20 million increase option from the stream finance providers and also provides an additional and flexible source of capital as we move to production," stated Christian Milau, President & CEO of True Gold. "This fixed cost equipment loan gives us flexibility to draw funds that can be used for non-project spending, including exploration. There are no costs for repaying the loan early and it provides an added start-up contingency while retaining the upside leverage to gold. We remain on schedule and budget at Karma with first gold pour anticipated in March 2016."
Highlights of the equipment finance facility:
$6 million dollars are available for drawdown on closing and the remaining $4 million dollars upon announcement of commercial production of the Karma Mine. The number of ounces at the fixed $5 per ounce discount to the gold price will be prorated to the total amount of the $10 million drawn. The facility is flexible with no restrictive financial covenants or hedging requirements, no penalty on early repayment, and is repaid over 16 months, starting in March 2016. Drawdown of the facility is subject to standard closing conditions for a transaction of this nature.
Auramet is a global physical precious metals merchant that provides a full range of services to participants in the precious metals sector, including buying precious metals from mining and recycling companies, providing revenue enhancement strategies, price protection programs, prepayment and other financings, and advisory services.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold production company, by focusing on projects with low costs, low technical risks and solid economics. The Company''s board, management and technical teams have proven track records in gold exploration, development, and production worldwide.
Additional information about the Company and its activities may be found on the Company''s website at and under the Company''s profile at .
ON BEHALF OF THE BOARD
Christian Milau, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historical fact relating to True Gold, certain information contained herein constitutes "forward-looking statements". The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in True Gold''s public filings, which may be accessed at . Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.
Contacts:
True Gold Mining Inc.
604-801-5020
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.01.2016 - 19:10 Uhr
Sprache: Deutsch
News-ID 1408236
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
VANCOUVER, BRITISH COLUMBIA
Phone:
Kategorie:
Mining & Metals
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 201 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"True Gold Signs $10 Million Equipment Finance Facility
"
steht unter der journalistisch-redaktionellen Verantwortung von
True Gold Mining Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
