Robex closes $130m syndicated facility agreement with Sprott
TSX-V-listed Robex Resources has successfully closed its syndicated facility agreement, securing a senior secured debt facility of $130-million to finance the construction of the Kiniero gold project, in Guinea.
The syndicated facility agreement, initially announced on March 4, involves Sprott Resource Lending acting as agent and lead arranger, with Sycamore Mine Guinée-SAU, a subsidiary of Robex, serving as the borrower.
The facility will provide financial support for the construction phase of the Kiniero project, one of the company's key ventures in West Africa.
On March 13, Robex and its partners agreed to amend and restate certain terms of the facility agreement. The amendments include an increase in the additional interest ounces from 4 457 oz to 4 667 oz of gold per quarter over 15 quarters. Further, the original issue discount was increased by $1-million upon the funding of the initial utilisation.
The parties also agreed on a cash sweep account arrangement in the event that specific conditions under the agreement are not met.
The company confirmed on Monday that the initial conditions precedent under the facility agreement had been satisfied, and it had drawn down the initial utilisation of the debt facility, amounting to $25-million.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation