Robex Resources Secures $130 Million for Guinea Gold Project Financing

Robex Resources Inc. has secured a US$130 million financing agreement to develop the Kiniero Gold Project in Guinea. The funding agreement with Sprott Resource Lending includes favorable terms, such as no required gold hedging or royalties. The company plans to list on the Australian Securities Exchange while focusing on expanding its operations in the region.

Robex Resources Inc. has announced a significant milestone in its financial strategy by finalizing a US$130 million syndicated facility agreement with Sprott Resource Lending. This funding is earmarked for the construction of the Kiniero Gold Project in Guinea, indicating a crucial advancement in Robex’s project development. Additionally, the company plans to list its shares on the Australian Securities Exchange, further expanding its market presence.

The facility agreement includes advantageous terms, notably the absence of mandatory gold hedging or royalties. Moreover, as part of the agreement, Robex will issue bonus shares as supplementary compensation to the lender, enhancing the financial viability of the project. Robex Resources operates primarily in the mining sector, focusing on gold production and the development of mining projects within Guinea.

Throughout the year, Robex’s stock has demonstrated a price performance increase of 15.32%, with an average trading volume of 40,239 shares. Despite this positive performance, the current technical sentiment consensus rating for the stock is categorized as a sell, which underscores caution among analysts. The company’s current market capitalization stands at approximately C$388.9 million, reflecting its presence within the competitive mining industry.

In conclusion, the successful procurement of US$130 million for the Kiniero Gold Project marks a pivotal development for Robex Resources Inc. This financing not only enables the construction of the project but also facilitates the company’s strategic plans to expand its operations through a listing on the Australian Securities Exchange. The favorable terms of the syndicate agreement, alongside the company’s strong price performance, positions Robex favorably in the mining sector moving forward.

Original Source: www.tipranks.com