- Dateline Resources’ (DTR) shares are in the green today after securing a US$6.8 million (around $9 million) working capital facility
- The facility has a 10-year maturity date, and the first four years are interest-only
- Funds will be used to advance Dateline’s Colorado project, Gold Links, into production
- The 2021 program is being finalised and is expected to commence in the second quarter of the current year
- On the market today, Dateline is up 14.3 per cent and is trading at 0.4 cents per share
Dateline Resources’ (DTR) shares are in the green today after securing a US$6.8 million (around $9 million) working capital facility.
The facility has a 10-year maturity date, ending March 2031, and the first four years are interest-only.
Under the agreement, the interest rate has been set at 6 per cent per annum, to be paid every month.
Funds will be used to advance Dateline’s Colorado project, Gold Links, into production. The 2021 program is being finalised and is expected to commence in the second quarter of this year.
The program includes underground and surface drilling, underground development and processing of the extracted resource at the Lucky Strike Mill.
Lucky Strike Mill is located 50 kilometres from the Gold Links Mine and can process 100 tonnes of ore per day.
“This funding provides the capital required to assist with increasing the resource at Gold Links and transform the company into a gold producer,” Managing Director Stephen Baghdadi said.
“[The] sales expected to fund increased exploration and development activity both at the Gold Links and at the Colosseum once that transaction is completed,”he added.
Gold Links includes four historically significant contiguous gold mines in Gunnison County, Colorado.
On the market today, Dateline is up 14.3 per cent and is trading at 0.4 cents per share at 12:01 pm AEDT.