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Allens Arthur Robinson has advised Hillgrove Resources Limited, owner of South Australia's Kanmantoo copper and gold mine, on the critical finalisation of an investment funding package.Allens'…
Allens Arthur Robinson has advised Hillgrove Resources Limited, owner of South Australia's Kanmantoo copper and gold mine, on the critical finalisation of an investment funding package.
Partner Andrew Finch, who led the Allens Equity Capital Markets team, said the new package is intended to cover the costs needed to complete the Kanmantoo Project.
"Achieving success in raising capital and securing a commitment for debt finance and commodity hedging is an important milestone for Hillgrove," Finch said.
"The final investment decision for the Kanmantoo project will see Hillgrove move into a new phase as an emerging copper and gold producer."
Phillip Cornwell, the Allens partner in charge of the project finance and hedging aspects, said the inter-conditionality of the equity raising, the commodity hedging and the project finance facilities presented particular challenges, and required a well co-ordinated team approach.
Mallesons Stephen Jaques acted for the underwriters and Freehills acted for the lending banks.
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