Lundin Gold unveils $400 mln financing, Newcrest, Orion to invest
Canadian mining company Lundin Gold Inc (TSX: LUG) has launched a US$400 million private placement financing that will complete funding requirements for its Fruta del Norte gold project in Ecuador. The deal's investors include Australia's Newcrest Mining Ltd, U.S. mining private equity firm Orion Mine Finance Group, Zebra Holdings and Lundin Family Trusts. Newcrest will invest US$250 million, giving the company ownership of 27.1 percent of Lundin’s outstanding shares, while Orion will account for US$100 million, giving it an 11.4 percent stake. Vancouver-based Lundin acquired the Ecuadorian project in 2014 as part of a US$240 million transaction.
26 February 2018•5 mins read
