OGX 0.00% 0.3¢ orinoco gold limited

Ann: Orinoco Finalises Funding Package for Production Start Up, page-2

  1. 25,504 Posts.
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    Sounds OK to me-
    "Orinoco Finalises Funding Package of up
    to A$14M for Production Start up at
    Cascavel Gold Project.
    Key Points:
     A key component of the package is an innovative gold sharing arrangement of up to
    US$8M with a private Singaporean mining investment group.
     The gold sharing arrangement provides upfront development capital in return for a
    share of gold production.
     Gold sharing is non-dilutive to existing shareholders.
     The funding package also includes a A$1M share placement at 7c to clients of Azure
    Capital and GMP Securities Australia plus a 1 for 4 non-renounceable Entitlement
    Issue, also at 7c, to raise a further A$2.7M (both with attaching options).
     Construction at the Cascavel Project to commence immediately upon receipt of
    funding.
     First gold production targeted for Q4 2015.
 
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