In February of this year WGR raised $80M via debt funding for the development of their project in the Murchison. Taken from their announcement to the market in February:
"The Board of Westgold Resources Limited ASX:WGR (“Westgold”) is pleased to advise that it has reached a conditional agreement to mandate Credit Suisse AG (“Credit Suisse) acting as exclusive lead arranger to provide a project-secured loan facility of up to A$80M and an associated hedging facility to assist with the development of the Central Murchison Gold Project (“CMGP”). Availability of the funding is subject to normal commercial banking conditions and is subject to completion of satisfactory documentation, satisfactory outcomes of the Definitive Feasibility Study and fulfilment or waiver of other typical conditions precedent."
WGR at the time had a market cap less than $80M (the debt provided by Credit Suisse. Someone with a bit more knowledge on WGR make be able to add something. I just noticed it because it was CS who was providing the funding.
Busting
MYG Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
