G Mining Ventures Secures $80 Million Funding for Guyana Gold Project Development
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 previously announced US$350 million revolving credit facility, providing critical funding for the development of its 100%-owned Oko Gold Project in Guyana. The financing represents a strategic move to optimize the company's capital structure while advancing key mining operations in mining-friendly jurisdictions. This substantial credit facility provides G Mining Ventures with the financial flexibility to continue developing its precious metal projects while maintaining operational momentum across multiple jurisdictions.
The proceeds from this drawdown were specifically used to repay an equivalent senior secured term loan previously provided by Franco-Nevada GLW Holdings Corp. This refinancing maneuver is expected to generate annual interest savings of approximately US$1.5 million, significantly improving the company's financial efficiency and reducing its cost of capital during the critical development phase of its gold projects. The refinancing enables G Mining Ventures to strengthen its balance sheet while simultaneously advancing development at both its Oko West operations in Guyana and Tocantinzinho operations in Brazil.
Julie Lafleur, Vice President of Finance and CFO, emphasized the strategic importance of this transaction, noting that it marks another step in optimizing our capital structure and improving capital efficiency. The company's access to substantial credit facilities demonstrates strong financial backing and confidence in its project portfolio. The full details of this financing arrangement and corporate updates are available through the company's official communications channel at https://ibn.fm/JiQoA.
G Mining Ventures continues to position itself for growth in the mid-tier precious metals sector, leveraging its proven development expertise and strategic access to capital markets. The successful drawdown and refinancing operation underscores the company's ability to execute complex financial transactions while maintaining focus on project development and operational advancement in key mining regions. This financial maneuver represents a significant milestone in the company's ongoing efforts to optimize its capital structure and enhance shareholder value through strategic financial management.
Curated from InvestorBrandNetwork (IBN)
