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FAQ: G Mining Ventures Completes US$80 Million Credit Facility Drawdown for Oko Gold Project
TL;DR
G Mining Ventures secured an $80 million credit drawdown, reducing annual interest costs by $1.5 million and strengthening its competitive position in gold mining operations.
G Mining Ventures used the $80 million credit facility drawdown to repay a senior secured term loan, optimizing capital structure and improving financial efficiency.
This strategic refinancing supports sustainable gold mining development in Guyana and Brazil, contributing to local economies and responsible resource extraction.
G Mining Ventures' innovative financing approach saves $1.5 million annually while advancing two major gold projects in mining-friendly South American jurisdictions.
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G Mining Ventures Corp. has completed the first US$80 million drawdown under its US$350 million revolving credit facility to support development of its 100%-owned Oko Gold Project in Guyana.
The refinancing generates annual interest savings of approximately US$1.5 million and represents a step in optimizing the company's capital structure and improving capital efficiency.
The US$80 million proceeds were used to repay an equivalent senior secured term loan previously provided by Franco-Nevada GLW Holdings Corp.
The financing will advance both the Oko West Gold Project in Guyana and the Tocantinzinho (TZ) Gold Mine operations in Brazil.
G Mining Ventures Corp. (TSX: GMIN, OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects, currently anchored by the TZ Gold Mine in Brazil and Oko West Gold Project in Guyana.
The company has access to a US$350 million revolving credit facility, of which this US$80 million represents the first drawdown.
The company's key projects are located in mining-friendly jurisdictions: the Oko West Gold Project in Guyana and the TZ Gold Mine (Tocantinzinho) in Brazil.
The latest news and updates relating to GMINF are available in the company's newsroom at https://ibn.fm/GMINF.
Julie Lafleur, Vice President, Finance and CFO, stated that the refinancing 'marks another step in optimizing our capital structure and improving capital efficiency,' enabling the company to strengthen its balance sheet.
This financing supports the company's growth strategy to become the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise.
Curated from InvestorBrandNetwork (IBN)
