SSR Mining Expands Existing Credit Facility To US$200 Million

SSR Mining (TSX: SSRM) (NASDAQ: SSRM) this morning indicated that it has expanded its existing credit facility. The expansion will see the undrawn revolving credit facility increase in size from US$75 million to that of US$100 million.

It’s unclear what specifically the firm intends to utilize the facility for, given that it was previously undrawn, however it did indicate the standing boilerplate uses of working capital and general corporate purposes, as well as reclamation bonding.

The facility itself currently bears interest at the London Interbank Offered Rate, plus margin that ranges from 2.0% to 3.0%, which is dependent on the firms net leverage ratio. The amended facility is largely the function of an expanded accordion feature, which grew from US$25 million to US$100 million in size, making up effectively half of the total credit facility.

The maturity of the credit facility has also been extended by four years to that of June 8, 2025.

SSR Mining last traded at $21.52 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

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Alamos Gold Renews Share Buyback Program

Alamos Gold (TSX: AGI) appears to be in the mood to spend money. Following its...

Friday, December 18, 2020, 08:43:55 AM

Pegasus Resources: New Exploration Focus In B.C.

Pegasus Resources (TSXV: PEGA), formerly Pistol Bay Mining, recently made a series of interesting moves...

Saturday, January 23, 2021, 05:32:00 PM

Monterey Minerals Discovers New Vein Via Trenching At Alicia Project

It was announced this morning by Monterey Minerals (CSE: MREY) that a new vein has...

Wednesday, October 14, 2020, 08:23:12 AM

Equinox Gold Reports After-Tax NPV of $640 Million For Proposed Castle Mountain Phase 2 Expansion

Equinox Gold (TSX: EQX) this morning announced the results of a feasibility study for its...

Monday, March 22, 2021, 08:39:03 AM

Great Bear Resources Conducts $37.2 Million Flow Through Bought Deal Financing

Great Bear Resources (TSXV: GBR) is the latest firm to cash in on the frothy...

Thursday, January 21, 2021, 08:14:36 AM