Robex Resources Inc. has secured a US$130 million syndicated facility agreement with Sprott Resource Lending to finance the Kiniero Gold Project in Guinea. This arrangement includes beneficial terms such as no mandatory gold hedging and the issuance of bonus shares. The company, which focuses on gold production, aims to expand its operations and plans to list shares on the ASX.
Robex Resources Inc. has made a pivotal announcement regarding its financial strategy. The company has secured a syndicated facility agreement amounting to US$130 million with Sprott Resource Lending, aimed at financing the construction of the Kiniero Gold Project in Guinea. This agreement not only highlights Robex’s commitment to advancing its projects but also lays the groundwork for the potential listing of its shares on the Australian Securities Exchange.
The facility agreement features advantageous terms for Robex, including the absence of obligatory gold hedging and royalties, as well as the provision for bonus shares to compensate the lender. Robex Resources operates primarily within the mining sector and is focused on expanding its gold production, particularly in Guinea, reflecting its strategic growth initiatives in the region.
As for the company’s year-to-date performance, Robex has recorded an impressive price increase of 15.32%. Its average trading volume stands at 40,239, with the current market capitalization valued at C$388.9 million. Despite the positive developments, the technical sentiment consensus rating remains a cautious sell for the time being.
In summary, Robex Resources has successfully secured a significant funding agreement aimed at advancing its Kiniero Gold Project in Guinea. By enlisting Sprott Resource Lending for a US$130 million syndicated facility, the company has positioned itself for further development and possible market expansion. The arrangement’s favorable terms and the company’s performance reflect its ongoing commitment to growth in the mining sector.
Original Source: www.tipranks.com
