Mayfair Gold reports a major financing milestone: Macquarie, a commodities bank, is investing C$10 million at C$4.26 per share and has also signed a non-binding agreement for C$300 million in project financing. This would cover the majority of the C$450 million in start-up capital estimated in the pre-feasibility study. The package includes a small tranche for preliminary work and equipment with long lead times, as well as a gold off-take agreement for Macquarie. Everything is still subject to due diligence and final contracts. Nevertheless, this is a strong signal, especially since Macquarie is considered an experienced mining financier. In addition, Mayfair is strengthening its team with Daniel Janusauskas as VP of Technical Services, who previously oversaw the Marathon project through the construction phase.
Note: This program is produced and published on behalf of Mayfair Gold and is funded by the companies.
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