20/11/2009 - 08:55

Integra accepts $55m finance offer

20/11/2009 - 08:55

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Gold hopeful Integra Mining has accepted a $55 million offer of project finance from BNP Paribas and Westpac Banking Corporation for its Randalls project in the Goldfields.

Integra accepts $55m finance offer

Gold hopeful Integra Mining has accepted a $55 million offer of project finance from BNP Paribas and Westpac Banking Corporation for its Randalls project in the Goldfields.

A rigourous and transparent selection process for project financiers was conducted by independent debt advisors PCF Capital.

A number of banks and other financial institutions had expressed an interest in participating in the financing of the Randalls gold project and these expressions of interest were shortlisted to two banking groups to provide credit approved finance term sheets.

On the basis of analysis of the competing proposals and the recommendation of the independent advisor, Integra has formally mandated BNP Paribas and Westpac to proceed to full legal documentation.

The offer of finance for construction and development of the Randalls Gold Project includes a senior debt facility of $45 million, a cost overrun facility of $5 million and a performance bond facility of $5 million.

Integra looks forward to working with our financing partners towards successful construction of the Randalls Gold Project and for other financing needs as Integra grows in the future.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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