The Project remains on track for first gold pour by Q3-2022.
The Project Financing Package is comprised of the following key terms:
RCF VII is part of
No gold hedging, offtakes, or cost overrun reserve required by the debt facilities.
Debt covenants allow for expansion flexibility of oxides and sulphides.
The Project remains free of gold streams and private royalties, thereby preserving upside for shareholders.
We are delighted to welcome Coris as the senior lender to the Project and proud to have them as a partner. They are one of the largest West African banks and first became a shareholder in 2018. They have financed mining projects within
We have worked very closely with RCF throughout this process and thank them for their continued support. We are also very pleased to welcome the
The debt package is structured to provide maximum flexibility for the Company to complete future expansions including the staged Phase II Sulphide Expansion. Bombore hosts a very large M&I resource at shallow depths, has exciting exploration potential, and is open to further enhancement opportunities. We are now ready to ramp up construction activities at Bombore with first gold pour scheduled for Q3-2022.'
About
Maintaining and consolidating its quality standards throughout its network coupled with its continued growth have enabled
The expertise of
About RCF
RCF is a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 198 mining companies, with projects located in 51 countries and across 32 commodities. RCF aims to partner with companies to build strong, successful and sustainable businesses and in doing so, strives to earn superior returns for all shareholders.
About
About
The 2019 feasibility study highlights Bombore as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of
Contact:
Tel: 1 778 945 8977
Toll Free: 1 888 673 0663
Email: info@orezone.com
Web: www.orezone.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute 'forward-looking information' within the meaning of applicable
All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by the COVID-19 pandemic, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company's most recent annual information form and management discussion and analysis filed on SEDAR on www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.
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