SLGGF - SolGold Secures $750M For Ambitious Mining Project In Ecuador | Benzinga
Exploration and development company SolGold (OTC:SLGGF) has successfully secured $750 million in funding for its Cascabel project in Ecuador. This funding came from a syndicated agreement with Franco-Nevada Corporation (NYSE:FNV) and Osisko Bermuda, who will receive a portion of the gold produced.
"We are thrilled to finalize this transformative $750 million gold stream with Franco-Nevada and Osisko," stated Scott Caldwell, President and CEO of SolGold.
"This agreement not only secures a significant portion of the capital required to fund the construction of Cascabel but also validates the vast potential of the Cascabel project," he said.
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Initially, $100 million will be released in three tranches, the first of which is expected shortly. These initial funds are designated for de-risking, permitting, completing a ...