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Anatolia mandates lead arranger for senior project financing of Copler Gold Project
TORONTO, Aug. 25 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 25 /CNW/ - Anatolia Minerals Development Limited\n("Anatolia" or the "Company") (TSX: ANO) today announces Bayerische Hypo- und\nVereinsbank AG, a member of UniCredit Group ("UniCredit"), has been mandated\nto act as lead arranger and underwriter for a US$70 million senior project\ndebt facility (the "Facility").\n\n\nProceeds from the Facility will complete Anatolia's external funding\nneeds for Phase 1 development of the Company's 100%-owned Copler Gold Project\n("Copler") in east-central Turkey. Facility documentation is substantially\ncomplete; proceeds will be available following satisfactory due diligence,\nfinal credit approval and customary conditions precedent prior to drawdown.\nRemaining capital requirements for Phase 1 will be funded from existing\nworking capital.\n\n\nEdward Dowling, President and CEO of Anatolia stated, "The Facility with\nUniCredit will provide the remaining project financing needed to complete\nPhase 1. This is an important milestone for the development of the mine at\nCopler. Going forward, we'll top up our working capital as needed to support\nour growth strategy, but the Company's flexibility is now much improved."\n\n\nUniCredit Group is one of Europe's largest financial institutions. For 20\nyears HVB, as part of the UniCredit Group, has been an active finance house\ncatering to the needs of its diverse and broad client base. With highly\nexperienced industry specialists and regional coverage the Group is well\npositioned to provide solutions for its mining customers.\n\n\nAbout Anatolia\n\n\nAnatolia Minerals is a leader among exploration and development companies\nin Turkey, pursuing a disciplined strategy for growth through resource\ndiscovery and development. The Company's 100%-owned Copler Gold Project is\namong Turkey's largest undeveloped gold deposits. Anatolia is developing\nCopler with a holistic approach. The Company plans a phased mine development\nat Copler. Phase 1 begins with a crush-heap leach operation for the oxide\nores. Simultaneously, the Company is accelerating exploration and technical\nwork to generate additional gold resource and reserves for both oxide and\nsulfide ores. In Phase 2, the Company plans to install milling for\nhigher-grade oxide ores to produce additional gold along with...