integra on the hunt for new projects

Integra on the hunt for new projects

By: Esmarie Swanepoel
23rd July 2012

PERTH (miningweekly.com) - Gold miner Integra Mining has secured a A$20-million finance facility, allowing the company to hunt for opportunistic acquisitions.

Integra told shareholders that the A$20-million cash advance facility, along with the recently announced A$25-million placed the company in a strong financial position, and would predominantly be used to fast-track exploration, repay debt, fund acquisitions and fund working capital commitments.

The miner said on Monday that the revolving cash advance facility would replace the existing project finance facility. Integra’s total project debt was currently at A$8.4-million, and was at a low level of gearing, given that the Randalls gold project had a defined six-year openpit mine life, and a 1.9-million-ton stockpile, containing more than 90 000 oz of gold.

http://www.miningweekly.com/article/integra-on-the-hunt-for-new-projects-2012-07-23