RE:RE:RE:RE:RE:Discovery Silver
TheGreekGoldGuy wrote: Retired Geo, give my good friend a break. You know whenever Eric Sprott owns 20% of a company, it's worth taking a look at. What is so shabby about Discovery Silver only having $25 billion in silver alraedy?
The Greek here, this one is worth keeping an eye on. Silver is seriously undervalued.
Discovery Silver symbol DSV is definitely worth owning. They have a world class silver deposit worth billions. Why do investors like Eric Sprott invest large amounts of money in companies like NFG, DSV and now recently in HYMC? Because if you have a personal net worth of billions and you want to multiply it you want to invest that money in very rich valuable deposits with huge upside potential.
Each company has its own story but in the end the drill results will do the talking and in my opinion the three I mentioned above will soon be worth multiples of current levels. Eric's Sprott's 2 billion net worth is about to go a whole lot higher. Oh and btw for anyone following the money Sprott just made a huge investment in Newfoundland's Marathon Gold's Valentine Lake project. See below for details.
I wonder if NFG needs a top up yet. You have to take it when you can get it. I'm thinking Eric Sprott and AMC Entertainment (yes believe it or not) will be making another massive capital infusion into New Found Gold's Queensway Project perhaps to coincide with more great drill results. The traders on the Reddit board at AMC can't wait to get their hands on NFG. Follow the big money and the big picture and you will do just fine. I'm making this way too easy for you guys. Just sayin. Here's a hint. Buy more NFG.
How does a financing of 10 million shares at $10 or even $12 cnd sound for $100 million plus. Personally I like $125 million raised at $12.50 so it will increase NFG's war chest to more than $200 million. You have to think big when it comes to in the mining business and we have got some big thinkers with deep pockets backing New Found Gold. The fun is just getting started. Place your bets and roll the dice. Don't you love my long winded verbal diarrhea posts early in the morning. I get that from the Rock Doctor. Lol He says he remembers where he buried that last bar of gold so you might start to see some big bids showing up on NFG soon.
Marathon closes $185-million (U.S.) credit facility
2022-03-31 17:47 ET - News Release
Mr. Matt Manson reports
MARATHON GOLD CLOSES US$185M CREDIT FACILITY FOR THE VALENTINE GOLD PROJECT
Marathon Gold Corp. has closed a 6.5-year $185-million (U.S.) term loan credit facility Sprott Private Resource Lending II (Collector-2) LP. The proceeds of the Facility are to be used for the construction, development and working capital requirements of Marathon's Valentine Gold Project located in the central region of Newfoundland and Labrador (the "Project" or "Valentine").
Matt Manson, President and CEO of Marathon, commented: "We are very happy to be announcing today the closing of our previously disclosed US$185 million credit facility with Sprott. This term loan has an attractive overall cost of capital for Marathon, and a carefully tailored structure designed to maximize our success at the Valentine Gold Project. Our financing approach for Valentine from the start has been to arrange the appropriate balance of traditional term loan debt and equity, without excessive leverage. With this Facility, we have now achieved the debt component of our strategy with an experienced and highly commercial resource lender. Following upon the Project's recent release from provincial environmental assessment, today's news represents another important milestone in the development of the largest gold mining project in Atlantic Canada."
Greg Caione, Managing Partner of Sprott, commented: "As one of the largest investors and lenders dedicated to the natural resource sector, Sprott is excited to partner with Marathon's experienced and accomplished management team. Our financing of Marathon is consistent with our strategy to provide innovative and flexible capital to maximize the value of exceptional projects and support world-class management teams. We look forward to partnering with Marathon on its journey to becoming a Canadian mid-tier producer. Valentine is an exceptional project in an excellent jurisdiction."
Key Facility Terms
Senior secured term loan facility of US$185 million maturing on June 30, 2028 (the "Maturity Date"), with a 6-month extension option available.
The Facility will be funded into a debt proceeds account (the "DPA") in two tranches, being US$125 million at close (the "Initial Advance") and US$60 million on December 31, 2022. Subject to conditions, the Facility is available to the Company up to the end of March 31, 2025 (the "Availability Period") on a prescribed schedule. Such conditions include the Project's release from federal environmental assessment, the perfection of security, a construction decision by Marathon's Board of Directors and certain other customary covenants and terms.
A fee of US$4 million (the "Initial Advance Fee") is payable upon the Initial Advance. Upon first release, the outstanding amount of the Facility will bear an interest of 7.75% plus the greater of (i) 3-month LIBOR, and (ii) 0.50% per annum, payable quarterly. The Initial Advance Fee and 75% of the interest accruing to the end of the Availability Period shall be capitalized.
US$15/ounce will be payable on the first 1 million ounces of payable gold produced by the Project. No other commitment or arrangement fees shall apply.
The Facility is to be repaid in ten quarterly principal repayments equal to 5.0% of the outstanding balance commencing on December 31, 2025, with the remaining 50% due at the Maturity Date.
About Marathon
Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 20-kilometre system. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). Please see Marathon's Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities and available on SEDAR for further details and assumptions relating to the Valentine Gold Project.
We seek Safe Harbor.