RE:The Debt Facility is not a 'done deal' until.........No Actually I believe it will be a done deal soon - here is a interview with Mconnell.
What recent news would you like to highlight to investors attending?
Victoria Gold Corp. recently announced that BNP Paribas is appointed to arrange up to US$220 million of senior, secured project debt towards funding the Eagle Gold Project through construction to production.
The Eagle Gold Project is shovel-ready. The Project is permitted for construction and operations; has successfully completed the Environmental Assessment process (February 2013); has a signed benefits agreement with the Na-cho Nyak Dun First Nation (October 2011); has received the Quartz Mining Licence (September 2013); the Water Use Licence (December 2015); and an updated Feasibility Study (September 2016).
What is the focus of your management team for the next 12 months, and what are the key milestones you are looking to reach that you think will add value to the business?
Victoria Team is looking to secure financing in 2017/18 to enable the start of construction of the proposed Eagle Gold mine. Securing financing 2017, would enable the start of construction and result in the first gold pour in 2018. In addition to the development of Eagle, the company is conducting a $6M exploration program of a number of identified targets near to Eagle, on the Dublin Gulch Property which lie along a 60km mineralized trend.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Victoria's CAPEX is US$300 M, and the company currently has a treasury of $US40M. An engagement letter has been signed with BNP Paribus Bank for a debt facility of US$220M. Victoria will only go forward with construction once adequate funding is in the bank. The Company is considering various options for raising the remaining required funds which include selling equity, selling a gold royalty, take on a joint venture partner or find a strategic investor.
What is your main aim in coming to the 121 Mining Investment conference?
Victoria Gold Corp.'s rationale for attending 121 Mining Investment is to seek investment to advance the financing of the Eagle Gold Project. Victoria Gold is seeking opportunities to meet with potential investors and shareholders to explore opportunities for investment; raise awareness of its project to the investor community; and provide current shareholders with project updates.