Up to US$300m secured to facilitate development of 3Moz Bau Gold Project
Highlights Up to US$300m gold pre-purchase and offtake non-binding drawdown funding facility term sheet signed with major shareholder Quantum Metal Recovery Inc, which Besra believes to be one of the largest deals of its kind signed by an ASX listed junior. Post-completion the Facility provides up to a US$300m deposit paid, to be paid over 30 months, against future production ounces, enabling Besra to fully fund production at Bau and the appraisal of other deposits within the Bau goldfield corridor. The Facility is expected to remove the need for dilutive equity financing and project/corporate...
Source: philippinetimes.com