INTEGRA Mining has signed a Project Finance Facility Agreement with BNP Paribas and Westpac Banking to help fund for its Randalls gold project.
According to Integra Mining, the $45 million project loan, a $5 million cost over-run facility, a $5 million bond facility will help accelerate the drilling program at its Randalls gold project, located 60km southeast of Kalgoorlie in Western Australia.
The company says the drilling program will test for depth extensions to the high-grade banded-iron formation (BIF) hosted gold mineralisation at the Maxwells, Santa and Cock-Eyed Bob gold deposits.
Integra Mining claims the depth extensions to the known deposits will provide attractive underground production opportunities to supplement the Phase 1 open pit production currently under construction.
The Randalls gold project is only the second integrated mining and processing new gold mine development based on a new gold discovery in Australia in the past 10 years.
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