Northern Vertex Mining and Eclipse Gold Mining connect with new U.S. Western gold producer Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeastern Ecuador. Fruta del Norte is one of the largest and largest gold deposits in the world. Purchase agreements offer an alternative to traditional capital raising. The result is a mutually beneficial relationship, in which both parties can ensure the success of a mine project and establish a strong working relationship for future projects. Biswas noted that Newcrest`s gold production during the quarter was in line with expectations and reflected the effects of the planned closures at Cadia and Telfer, as well as the sale of Gosowong in March. Futures contracts for goods are generally subject to due diligence vis-à-vis the seller and the mine concerned, and closing conditions are similar to those that lenders seek to obtain in the case of debt financing. The acceptance component of the agreement provides that Telson Trafigura supplies all lead and zinc concentrate produced in the mines during the four-year period at Campo Morado and the 5-year period at Tahuehueto. Premier and Orion Mine Finance Fund II LP have entered into a subscription agreement pursuant to which Orion has agreed to subscribe for 7 million common shares (the “Private Placement”) for aggregate gross proceeds of C$11,056,500, or approximately C$1.58 per common share.
As part of the private placement, the Prime Minister will also issue 2,000,000 warrants to purchase common shares from Orion (“Orion-Warrants”). Any Orion warning device may be exercised in a common share for a period of three (3) years from the date of issue and has an exercise price of C$2.05. The conclusion of the Orion Financing Agreements is subject to normal closing conditions and the following information: Ewan Downie, President & CEO, 1.888.346.1390, [email protected], www.premiergoldmines.com The Company also announces the extension of the maturity date from May 31, 2017 to June 30, 2017 of the short-term credit facility with Zebra Holdings and Investments S.à.r.l. (the “Lender”). a company owned by a trust whose team name was the late Adolf H. Lundin and an insider of Lundin Gold.. . .