Business
Blue Lagoon Secures $2 Million Line of Credit from Nicola Mining Enhancing Financial Flexibility Ahead of Production
(TheNewswire) June 23, 2025 – TheNewswire - Vancouver, British Colum...
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":"Blue Lagoon Secures $2 Million Line of Credit from Nicola Mining Enhancing Financial Flexibility Ahead of Production\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n June 23, 2025\n \n\n –\n \n\n TheNewswire -\n \n\n Vancouver,\nBritish\n \n\n Columbia\n \n\n –\n \n\n Blue\n \n\n Lagoon\n \n\n Resources\n \n\n Inc.\n \n\n (the\n“\n \n\n Company\n \n\n ”)\n \n\n (CSE:\n \n\n BLLG;\n \n\n FSE:\n \n\n 7BL;\n \n\n OTCQB:\n \n\n BLAGF)\n \n is pleased to announce that it has entered into\na credit agreement with its toll milling partner,\n \n\n Nicola\nMining Inc\n \n\n\n .\n \n ,\nproviding the Company with a\n \n\n $2 million line of credit\n \n\n ,\nwithout any security against the Company’s mineral property or\nphysical assets.\n \n\n The facility, which carries a competitive interest rate linked to the\n3-month SOFR (Secured Overnight Financing Rate), is repayable over a\n12-month term with interest-only payments during the first eleven\nmonths. At the Company’s discretion, the loan can be extended for an\nadditional 12 months, with adjusted terms.\n \n\n Importantly, the loan is structured to allow\n \n\n maximum\noperational flexibility\n \n\n , with no requirement for project\ncollateralization — underscoring Nicola’s confidence in the Dome\nMountain Gold Project and its near-term production trajectory.\n \n\n “We’re extremely pleased to have the continued support of Nicola\nMining, not only as our toll milling partner but also as a continued\nfinancial backer,” said\n \n\n Rana Vig\n \n\n\n ,\n \n President and CEO of Blue Lagoon.\n“This line of credit adds an extra layer of security to our already\nstrong balance sheet and gives us added flexibility as we finalize\npreparations for gold production this summer. It's a clear sign that\nsophisticated investors recognize the value of Dome Mountain and its\ncash flow potential.”\n \n\n This agreement comes on the heels of Blue Lagoon’s recently\ncompleted financing, which was fully subscribed by long time existing\nshareholders that included Crescat Capital and Phoenix Gold fund as\nwell as new strategic investors. The Company remains\n \n\n fully\nfunded\n \n\n\n ,\n \n with\n \n\n no\nshort-term debt\n \n\n and\n \n\n over $3.6 million in in-the-money\nwarrants\n \n\n , posi...