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Millennium Minerals Secures Financing Facility
2010-08-18 14:07:08
Millennium Minerals Limited (“Millennium” or “the Company”) is pleased to announce it has formally mandated BNP Paribas (“BNP”) as exclusive arranger and underwriter for the provision of the Construction, Cost Overrun, Performance Bond and Risk Management Facilities for the purposes of funding the construction and development of the Nullagine Gold Project in Western Australia (“Project”).
The $35 million credit approved facilities are subject to completion of legal due diligence and documentation, expected to be finalised over the next few months and will be available subject to satisfaction of certain conditions precedent which includes raising the necessary equity component of the financing.
Award of the mandate is a major step forward in the development of Millennium’s Nullagine Gold Project and the Company is pleased to be partnering with BNP Paribas, a leading international bank that has significant expertise and capability in project finance in the mineral resource sector.