MALLESONS Stephen Jaques’ Perth project finance team has acted for Integra Mining Limited on the financing of its A$64 million Randalls Gold Project, marking the third gold deal for the team in the last 12 months.
Lead Mallesons partner Nicholas Creed also acted for Macquarie Bank Limited on the $73 million Duketon Gold Project financing for Regis Resources Limited and Catalpa Resources’ $92 million Edna May open-pit gold operations.
“The Integra deal confirms the attractiveness of the gold sector for project finance and the positive outlook for work in this space,” Creed said.
“Having another producer active in the Kalgoorlie area increases the interest in consolidation and the potential for increased M&A activity in the WA gold sector,” he added.
Integra Mining announced the agreement last week, saying that subject to a rigorous due diligence process, the Randalls Gold project was executed with BNP Paribas and Westpac Banking Corporation. It includes a $45 million project loan, a $5 million cost over-run facility, a $5 million bond facility and a facility for mandatory and optional gold Hedging.
Mallesons’ role involved drafting the facility and security documents and providing a due diligence report on Integra Mining Limited and its subsidiaries. Nicholas Creed was assisted by Mallesons senior associate Chris Scott and solicitors Lyn Ladhams and David Nadilo.
“Our work on the three gold deals showcases the adaptability of our project financing team, which has acted for both the borrowers and lenders on these financings,” Creed said.
Senior associate Nicole Ho and Solicitor David Nadilo assisted Nicholas Creed on the Duketon Gold Project financing for Regis Resources.
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