Macquarie Bank has underwritten a A$68 million six-year project financing for Catalpa Resources' Edna May Gold Project.
The debt package comprises a A$55 million secured tranche, a standby mezzanine portion of up to A$10 million and a A$3 million performance bond facility.
The project is forecast to generate an average annual cash operating margin of A$90 million post royalty. In addition, Catalpa will be issuing Macquarie Bank with options over fully paid ordinary shares in Catalpa.
Proceeds are to finance a A$92 million project in Westonia.
Lynas Corporation has canceled a $105 million senior debt facility because it would not be able to satisfy the conditions of a first drawdown by March...