Lydian Announces $325 Million Construction Financing for Amulsar Gold Project <LYD.TO>
Lydian Announces $325 Million Construction Financing for Amulsar Gold Project
TORONTO, ONTARIO--(Marketwired - Dec. 1, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Lydian International Limited (TSX:LYD) ("Lydian" or "the Company") is pleased to announce it has
entered into definitive agreements related to a $325 million construction financing package for
Lydian's 100%-owned Amulsar Gold Project in south-central Armenia (the "Financing") to be provided
by Orion Mine Finance ("Orion") and Resource Capital Funds ("RCF"). All dollar amounts in this
news release are presented in U.S. dollars unless otherwise noted.
Howard Stevenson, Lydian's President and CEO, stated, "This Financing is an important milestone in
our commitment to all stakeholders to advance Amulsar to production. The economic enhancements
from our recently announced value engineering work represented a major step toward our objective
of optimizing project economics and underpinned the opportunity to complete this Financing. Orion
and RCF are highly-respected mining finance investment funds, and over and above their financial
commitments, each group brings added experience to our team."
The Financing commitments consist of a:
*$60 million gold and silver stream;
*$80 million equity private placement;
*$160 million term loan facility; and
*$25 million cost overrun facility.
>>> http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:2015-12-01:CCN_20020408:201512011035070001
Lydian Announces $325 Million Construction Financing for Amulsar Gold Project
TORONTO, ONTARIO--(Marketwired - Dec. 1, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Lydian International Limited (TSX:LYD) ("Lydian" or "the Company") is pleased to announce it has
entered into definitive agreements related to a $325 million construction financing package for
Lydian's 100%-owned Amulsar Gold Project in south-central Armenia (the "Financing") to be provided
by Orion Mine Finance ("Orion") and Resource Capital Funds ("RCF"). All dollar amounts in this
news release are presented in U.S. dollars unless otherwise noted.
Howard Stevenson, Lydian's President and CEO, stated, "This Financing is an important milestone in
our commitment to all stakeholders to advance Amulsar to production. The economic enhancements
from our recently announced value engineering work represented a major step toward our objective
of optimizing project economics and underpinned the opportunity to complete this Financing. Orion
and RCF are highly-respected mining finance investment funds, and over and above their financial
commitments, each group brings added experience to our team."
The Financing commitments consist of a:
*$60 million gold and silver stream;
*$80 million equity private placement;
*$160 million term loan facility; and
*$25 million cost overrun facility.
>>> http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:2015-12-01:CCN_20020408:201512011035070001