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LUNDIN GOLD TO BUY OUT 100% OF STREAM FACILITY TO BECOME DEBT FREE
LUNDIN GOLD TO BUY OUT 100% OF STREAM FACILITY TO BECOME DEBT FREE Canada NewsWire ...
About this update from Lundin Gold Inc.
[{"type":"text","content":"\n \n \n \n LUNDIN GOLD TO BUY OUT 100% OF STREAM FACILITY TO BECOME DEBT FREE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 25, 2024\n \n \n /CNW/ -\n \n Lundin Gold Inc.\n \n (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)\n \n (\"Lundin Gold\" or the \"Company\")\n \n is pleased to announce that it has entered into an agreement with Newmont Corporation (\"Newmont\") to buy out 100% of the balance of the stream credit facility (the \"Stream Facility\") and offtake agreement (the \"Offtake\") for its 100% owned Fruta del Norte gold mine in\n \n Ecuador\n \n for total consideration of\n \n $330 million\n \n . All amounts are in U.S. dollars unless otherwise indicated.\n \n View PDF\n \n \n \n \n Ron Hochstein\n \n , President and CEO commented, \"\n \n I'm very pleased to announce the buy out of the Stream Facility and Offtake. With this milestone complete,\n \n Lundin Gold\n \n will have repaid in full all of its project finance debt only four years after achieving commercial production at Fruta del Norte. Upon closing, the Company will be debt free and have increased exposure to rising gold prices, resulting in increased amounts of free cash flow\n \n \n 1\n \n \n to support capital allocation initiatives, including further growth and shareholder returns.\"\n \n \n \n The Stream Facility and Offtake were established in 2017 as part of a project financing package to fund the development and construction of Fruta del Norte. The Stream Facility was repayable in variable monthly instalments equivalent to the value of 7.75% of gold production less\n \n $408\n \n per oz. and 100% of the silver production less\n \n $4.08\n \n per oz. up to a maximum of 350...