The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Monday, 26th January 2009 (1198 views)

Capstone Mining has announced that it has repaid portions of its CN$10 million (£5.9 million) revolving corporate credit facility with Macquarie Bank and made two payments on its project loan facility.

The Canadian firm’s Capstone Mining North subsidiary made two US$5.5 million (£4 million) principal payments to the bank to reduce its project loan facility to US$29.9 million by the end of 2008.

An additional balance of CN$10 million remains outstanding under the subordinate loan facility and is repayable after the project loan facility has been settled.

In a statement on its fourth quarter finances for 2008, the company also stated that it had a cash balance of around US$41.9 million at the end of the year and proceeds of US$37.5 million were received as an advance payment against future gold and silver production at its Minto mine.

Based in Vancouver, British Columbia, Capstone Mining is a publicly-traded mining business that recently reported strong results from the final 28 drill holes from its 2008 exploration programme at the Minto copper-gold mine in the Yukon.

 

« Back to Gold News stories