RE: Brigus Gold to repurchase 4% of the gold strea From the CNBC link:
The Company is also pleased to announce that it has secured $30 million in debt financing. $26.4 million of the debt proceeds will be used to repurchase 4 percent of the existing 12 percent goldstream with Sandstorm Gold Ltd. ("Sandstorm").
Not sure why the Company went through the debt route to buy back. I guess that was the only option they had available.
Under the agreement with Sandstorm, the Company may repurchase up to 6 percent of the goldstream until January 1, 2013. Brigus will make a decision on the remaining 2 percent prior to the end of the year.
Brigus still has the option of buying the rest before the end of the year. At least some of the uncertainty cloud has lifted off SSL's shoulders with respect to the buyback.