Alamos Gold Announces Bank Financing Agreement.TORONTO -- Alamos The name Álamos can refer to the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension :AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, ) announces that it has signed a letter agreement with a banking syndicate composed of Societe Generale, Standard Bank London Limited and Macquarie Bank Limited for up to US$45 million in term debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay for the Mulatos Project in Sonora, Mexico. The facility is composed of a US$40 million gold loan due December 2009, and a short-term US$5 million standby loan available to fund cost overruns for the project. Pursuant to the terms of the Agreement, the gold loan interest rate is 375 basis points above the gold lease rate prior to achieving economic completion, and 325 basis points above the gold lease rate thereafter. The standby loan interest rate is 350 basis points above the London Interbank Offered Rate London Interbank Offered Rate A short-term interest rate often quoted as a 1,3,6-month rate for U.S.dollars. . As a condition of the loan, Alamos will establish a fixed price selling arrangement covering 250,000 ounces of gold production for the term of the loan. The agreement is subject to a number of conditions, including satisfactory due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. to be conducted by a technical agent of the syndicate and definitive loan documentation. Closing is expected on or about September 30, 2004. Alamos Gold is a development stage mining company constructing an open pit, heap leach gold mine at its fully permitted, 100% owned Mulatos deposit in Sonora, Mexico. The Mulatos deposit contains over 3 million ounces of gold in the measured and indicated category at a cutoff of 0.6 grams per tonne. Phase I mining will focus on the Estrella pit, which contains over 1.4 million ounces of recoverable gold. For further information about Alamos Gold Inc., please visit our website at www.alamosgold.com The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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