Sign up Australia
Proactive Investors - Run By Investors For Investors

Resolute Mining secures US$100 million revolving loan facility from Investec

The rates, fees and terms agreed for the new facility are highly competitive.
Low cost funding for new growth initiatives

Resolute Mining Limited (ASX:RSG) has secured a US$100 million revolving loan facility from Investec Australia Limited.

The new facility provides Resolute with flexible access to low cost funding for new growth initiatives.

Resolute has previously operated senior secured credit facilities with a banking syndicate which has included Citi, Barclays, Societe Generale, Macquarie, and Investec.

READ: Resolute Mining achieves guidance and forecasts 300,000 ounces in FY19

The most recent secured debt facility was a US$50 million cash advance facility jointly provided by Barclays and Investec which was fully repaid in June 2016.

The new facility is fully underwritten by Investec, has an initial three-year term, and ranks pari passu with the existing banking syndicate security trust deed.

READ: Resolute Mining hits 493 g/t gold over 5 metres at Syama Gold Project in Mali

The rates, fees and terms agreed for the new facility are highly competitive and provide Resolute with access to flexible growth capital at an attractively low cost.

Resolute managing director and chief executive officer John Welborn said: “This revolving credit facility ensures Resolute has the financial flexibility to pursue our growth agenda and act on opportunities as they arise.

“We maintain a strong balance sheet and ensuring a modest level of gearing is available to the company is a sound and appropriate strategic decision given our ambitions and outlook.”

READ: Resolute Mining’s updated study cuts underground gold mine costs by US$135 per ounce

Welborn added: “Resolute has always maintained strong relationships with our banking syndicate and I thank Investec for their support and vote of confidence.”

View full RSG profile View Profile

Resolute Mining Ltd Timeline

Related Articles

March 28 2018
In January this year, shares in the materials group began trading on Nasdaq First North Stockholm
De Grey Mining expects upgrade to 1.2 million ounce resource at Pilbara Gold Project
August 28 2018
The conglomerate gold asset holder is proving up structural gold mineralisation on more than 200 kilometres of shear zone strike length.
A vanadium ore stockpile at Nelly
August 31 2018
The country’s favourable regulatory system enables faster turnaround of legacy mining rights.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use