RNI advances A$60m financing talks for Grovenor mine
PERTH (miningweekly.com) – Gold hopeful RNI on Monday announced that it had signed a term sheet for a A$60-million project financing package to fund the development of the Grosvenor gold project, in Western Australia.
The funding package comprised a split of senior debt and convertible bonds, and would be accompanied by a A$3.7-million share placement to the London-based fixed interest fund, which is providing the financing package.
The ASX-listed junior noted that the placement, which was subject to the clearance of the funds, would involve the issue of about 49.85-million RNI shares, at a price of 7.5c each.
The completed A$63.7-million package would enable RNI to repay its existing short-term debt and finance the development of the Grosvenor project.
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.
All infrastructure and permits were already in place for the Grosvenor project, allowing production to start within some nine months of completing project financing.
The A$60-million funding package was subject to a due diligence and various other conditions and approvals.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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
