https://www.engineeringnews.co.za

New Gold puts almost C$25m in Harte Gold

19th March 2021

By: Creamer Media Reporter

     

Font size: - +

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.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.048 0.799s - 140pq - 2rq
Subscribe Now