23/07/2012 - 15:18

Integra secures $20m for growth opportunities

23/07/2012 - 15:18

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Integra secures $20m for growth opportunities
Integra's processing facility at the Randalls gold operation, 60km east of Kalgoorlie-Boulder.

Integra Mining says it is on the lookout for potential acquisitions after securing a $20 million finance facility for its Randalls Gold project in the eastern Goldfields.

Integra announced the new facility with BNP Parabas and Westpac Bank today, which will replace the existing project financing facility for Randalls and give the company the financial capacity needed to seek out new growth opportunities.

The Randalls projects has a 6 year open pit mine lie and a 1.9 million tonne stockpile, containinig over 90,000 ounces of gold.

“The $20 million revolving cash advance facility, together with the recently-announced $25 million placement, places Integra in a strong financial position and will predominantly be used to fast-tract exploration, repay debt, fund acquisitions and for working capital purposes,” Integra managing director Chris Cairns said.

At close of trade today, Integra stocks had lost 6.5 per cent, trading at 29 cents. 

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