Robex Resources secures US$130 million for the Kiniero Gold Project in Guinea through a syndicated facility agreement with Sprott Resource Lending. The deal includes advantageous terms such as no gold hedging or royalties, along with bonus shares for the lender. The company plans to list its shares on the Australian Securities Exchange.
Robex Resources Inc. has announced a pivotal agreement to secure US$130 million in financing for its Kiniero Gold Project located in Guinea. This syndicated facility agreement, established with Sprott Resource Lending, is a substantial achievement for Robex, as it provides the essential funding needed for project development. The company intends to subsequently list its shares on the Australian Securities Exchange.
The financing arrangement features advantageous conditions, notably the absence of mandatory gold hedging and royalties. Additionally, Robex will issue bonus shares as part of the compensation to the lender, underlining the favorable terms of this deal. As a company, Robex Resources focuses heavily on gold production and is committed to expanding its mining operations in Guinea.
In summary, Robex Resources Inc. has successfully secured US$130 million to advance the Kiniero Gold Project through a beneficial financing agreement. The terms of this facility are particularly favorable, lacking mandatory hedging and royalties, while also including bonus share compensation. With plans to list on the Australian Securities Exchange, Robex is poised for significant growth in the gold mining sector.
Original Source: www.tipranks.com
