Business
Blue Lagoon Secures $2 Million Line of Credit From Nicola Mining Enhancing Financial Flexibility Ahead of Production
VANCOUVER, BRITISH COLUMBIA - June 23, 2025 (NEWMEDIAWIRE) - Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has entered into a credit agreement with its toll milling partner, Nicola Minin...
About this update from Nicola Mining Inc.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA - June 23, 2025 (NEWMEDIAWIRE) - Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has entered into a credit agreement with its toll milling partner, Nicola Mining Inc., providing the Company with a $2 million line of credit, without any security against the Company's mineral property or physical assets.","length":407,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":"The Newswire","className":"","disableSlideshowImg":false,"size":{"original":{"width":238,"height":82,"url":"https://media.zenfs.com/en/newsmediawire_165/3200b89be225620e61edfb7291fe10ad"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/M54TLzgKBSYTbEJ5Xr38Vg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE0NTtjZj13ZWJw/https://media.zenfs.com/en/newsmediawire_165/3200b89be225620e61edfb7291fe10ad","width":238,"height":82}}},{"type":"text","content":"The facility, which carries a competitive interest rate linked to the 3-month SOFR (Secured Overnight Financing Rate), is repayable over a 12-month term with interest-only payments during the first eleven months. At the Company's discretion, the loan can be extended for an additional 12 months, with adjusted terms.","length":320,"tagName":"p"},{"type":"text","content":"Importantly, the loan is structured to allow maximum operational flexibility, with no requirement for project collateralization - underscoring Nicola's confidence in the Dome Mountain Gold Project and its near-term production trajectory.","length":241,"tagName":"p"},{"type":"text","content":""We're extremely pleased to have the continued support of Nicola Mining, not only as our toll milling partner but also as a continued financial backer," said Rana Vig, President and CEO of Blue Lagoon. "This line of credit adds an extra layer of security to our already strong balance sheet and gives us added flexibility as we finalize preparations for gold production this summer. It's a clear sign that sophisticated investors recognize the value of Dome Mountain and its cash flow potential."","length":524,"tagName":"p"},{"type":"text","content":"This agreement comes on the heels of Blue Lagoon's recently completed financing, which was fully subscribed by long time existing shareholders that i...