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Article: South Africa : Great Basin will sell C$110m debentures for SA project.

Article from:
TendersInfo
Article date:
November 2, 2009
Copyright

Byline: manish03

Great Basin Gold will sell C$110-million of senior unsecured convertible debentures for the development of its Burnstone project, in South Africa, the firm announced this week.

Great Basin, which also has a gold project in Nevada, has been trying all year to finalise an R850-million senior debt facility for Burnstone, and said on Thursday that it has now opted instead for a bought-deal offering of debentures, replacing the proposed debt facility.

We have been reviewing funding alternatives given the long timeline and restrictions that project debt facilities require, CEO Ferdi Dippenaar said.

Due to the extended time ...

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