New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 21, 2012
15:04 EDTMDWMidway Gold arranges $70M in strategic financing
Midway Gold is pleased to announce that it has arranged a US$70M private placement financing of five year 8% convertible Series A Preferred shares at a price of US$1.85 per share. Kenneth A. Brunk, Midway's Chairman, President and CEO said, "Midway is pleased to welcome lead investor Hale Capital Partners, L.P. as a key strategic financial partner in the pursuit of the Company's goal of becoming a Nevada gold producer in the near term. This is a very important step forward for Midway as we have dramatically reduced financing risk in uncertain times, and have done so without incurring hedging on our future gold production or committing to any security over our assets, all while seeking to minimize equity dilution to our shareholders."
News For MDW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 15, 2014
08:32 EDTMDWMidway Gold names William Zisch as president and CEO
Subscribe for More Information
October 7, 2014
08:04 EDTMDWMidway Gold places gold hedges as required under Pan Gold credit facility
Midway Gold Corp. announces that it has satisfied the gold hedging requirements under its project finance facility with Commonwealth Bank of Australia. Midway entered into commitments to deliver to CBA, at a flat forward price of $1,200/oz, 80,500 ounces of gold over a 23-month period commencing in May 2015. The hedging program provides price protection for the Company’s debt obligations and represents approximately 13% of estimated life-of-mine production from the Pan Gold Project. The project finance facility is comprised of two tranches: a project finance facility of $45M, plus a cost overrun facility of $10M. Advances under the project finance facility will bear interest at LIBOR plus 3.50% to 3.75%, and advances under the cost overrun facility will bear interest at the project finance facility rate plus 2.00%. The Company must satisfy additional customary conditions precedent to draw on the facility.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use