GoldMining Secures US$20 Million Loan Facility With Bank Of Montreal

GoldMining Inc. (TSX: GOLD) announced today that it has closed its previously announced agreement with the Bank of Montreal. The firm has secured a US$20 million loan facility from the Canadian bank.

The loan facility is subject to the 3-Month London interbank offered rate plus 5.65% annual interest rate. It is also secured against Gold Royalty Corp. shares owned by the company and has a one-year maturity period, with an option to extend for another year.

The mining firm relayed that the proceeds of the facility will be available for advancing its projects, including the preliminary economic assessments for the 100%-owned Yellowknife Gold project in Northwest Territories, São Jorge Gold Project in Pará State, Brazil, and La Mina Project in Antioquia, Colombia, as well as general corporate purposes and acquisitions.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Per the terms of the facility, the minimum initial advance of $10 million has already occurred.

GoldMining Inc. last traded at $1.69 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Everybody Should Own Gold | George Bee – U.S. Gold Corp.

A $40M Company Created $2B in Mining Value | John-Mark Staude – Riverside Resources

The Debt Crisis Is Turning Gold Into Money | Shawn Khunkhun – Contango Silver and Gold

Recommended

Power Metallic Starts PEA on Lion and Nisk Main Deposits, Eyes First Half 2027 Completion

Cambria Gold Targets Q4 2027 Mill Restart at Premier as Red Mountain Road Clears Final Permit

Related News

Gold Is Still The Hedge Against Inflation – The Daily Dive

Joining us for the first time on The Daily Dive today is Alastair Still, CEO...

Thursday, February 3, 2022, 01:30:00 PM

A Good Time For Gold? — With Alastair Still of GoldMining

Joining us today on the Daily Dive is Alastair Still, CEO of GoldMining Inc. (TSX:...

Thursday, October 27, 2022, 01:30:00 PM

GoldMining Reports 2.99 Million Ounces Of Gold Equivalent At Whistler Project

GoldMining Inc. (TSX: GOLD) released today its updated mineral resource estimate for its wholly-owned Whistler...

Monday, June 21, 2021, 10:32:00 AM

GoldMining To Spin Out Its Whistler Gold-Copper Project In Alaska

GoldMining Inc (TSX: GOLD) is evidently looking to unlock further value for shareholders. The company...

Monday, February 28, 2022, 07:52:07 AM

GoldMining Quietly Renews US$50 Million At-The-Market Financing

GoldMining (TSX: GOLD) evidently wanted to draw little attention to the renewal of an at-the-market...

Sunday, November 26, 2023, 07:11:00 AM