Harte Gold to raise $90 mln debt facility from Sprott, Appian

Toronto-based mining company Harte Gold Corp (TSX: HRT) has agreed to receive a $90 million (US$70 million) debt financing package to support construction of its Sugar Zone Project. Sprott Private Resource Lending, an affiliate of Canadian asset manager Sprott Inc, will contribute US$50 million of senior secured debt to the package, while Appian Natural Resources Fund, a metals and mining private equity fund managed by U.K.-based Appian Capital Advisory, will account for a US$20 million subordinated loan. Harte Gold owns 100 percent of its Sugar Zone gold property, located in White River, Ontario.

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