MGDPF - Marathon Gold nabs $81M equipment financing for project development and mining operations

Marathon Gold (OTCQX:MGDPF) announced the execution of a credit-approved commitment letter with Caterpillar Financial Services for equipment lease financing related to the development and operation of the Valentine Gold Project located in central Newfoundland. "This agreement will provide financing for the Project's mobile mining equipment through project development and into the first several years of mining operations at an attractive overall cost of capital for Marathon," President and CEO Matt Manson commented. The letter contemplates $81M of equipment leasing for Caterpillar trucks, excavators, graders, loaders, and dozers, for the purpose of loading, hauling, road maintenance, waste dump maintenance and primary pit support for the project.

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Marathon Gold nabs $81M equipment financing for project development and mining operations