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Business|Gold|Mining|Projects|Underground
Business|Gold|Mining|Projects|Underground
business|gold|mining|projects|underground

Resolute secures $140m debt facilities to fund future growth

Mako mine in Senegal

Resolute's Mako mine, in Senegal

Resolute's Mako mine, in Senegal

4th September 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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ASX-listed gold miner Resolute Mining has signed senior debt facilities worth $140-million with its longstanding financing partner Nedbank, through its Nedbank Corporate and Investment Banking division, and Citibank.

The facilities comprise a $30-million revolving credit facility, a $30-million term loan facility with a one-year drawdown period and an $80-million accordion facility.

This provides Resolute with the flexibility to continue exploring organic and inorganic growth opportunities once they have been identified.

Some of the company’s currently self-funded growth projects are the Syama Phase 1 expansion and investments in extending the mine life at Mako.

Resolute owns 80% of the Syama underground gold mine, in Mali, and 90% of the Mako gold mine through a subsidiary, in Senegal.

Resolute had net cash of $96-million at the end of June, which, coupled with the new debt facilities, strengthens the company’s balance sheet.

CFO Chris Eger says he appreciates the confidence that its funders have shown in the business, with the latest financing demonstrating the company’s ability to access commercial debt financing at competitive terms from international lenders. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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