Gold Road se­cures $150m in fund­ing

The Australian Mining Review - - NEWS -

NEAR-term pro­ducer Gold Road Re­sources has signed a re­volv­ing $100m fi­nance fa­cil­ity and a $50m ded­i­cated work­ing cap­i­tal and gold hedg­ing agree­ment for de­vel­op­ment and ex­plo­ration ac­tiv­i­ties.

The funds will be utilised for ex­plo­ration at its Ya­marna ten­e­ments and the de­vel­op­ment of its 50:50 Gruyere gold project joint ven­ture in WA.

“Th­ese fi­nance fa­cil­i­ties are a pru­dent move as we tran­si­tion the com­pany from be­ing an explorer with a de­vel­op­ment as­set to an Aus­tralian mid-tier gold pro­ducer with sig­nif­i­cant ex­plo­ration up­side and the fi­nan­cial ca­pa­bil­ity and flex­i­bil­ity to grow fur­ther,” Gold Road chief Ian Mur­ray said.

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