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Highland Gold Mining Ltd Announces Acquisition And Debt Facility With Gazprombank


Tuesday, 2 Apr 2013 02:00am EDT 

Highland Gold Mining Ltd announced the acquisition of 100% of CJSC Bazovye Metally which holds the mining and exploration rights to the Kekura gold deposit and surrounding licence area, for a consideration of USD212 million. An additional USD11 million will be paid in H2 2013 to a contractor upon the successful launch of the pilot plant which is currently being completed. The consideration will be in cash and will be funded via a new debt facility of USD250 million with Gazprombank, which facility will also allow for additional group operational working capital. The acquisition has received approval to proceed from the Russian anti-monopoly authorities. 

Company Quote

70.0
0.0 +0.00%
21 Jul 2014