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Africa|Construction|Financial|Gold|PROJECT|Resources
Africa|Construction|Financial|Gold|PROJECT|Resources
africa|construction|financial|gold|project|resources

Robex closes $130m syndicated facility agreement with Sprott

18th March 2025

By: Creamer Media Reporter

     

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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.

Edited by Creamer Media Reporter

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