EURO Ressources S.A. Completes Silver Stream Agreement With Orezone Gold Corporation
Goodmans LLP acted for EURO Ressources S.A. in its silver stream agreement with Orezone Gold Corporation, whereby Orezone sold 50% of the future silver production from the Bomboré Gold Mine for an upfront cash payment of US$7.15 million.
The silver stream agreement was part of the Project Financing Package by Orezone for the Bomboré Gold Mine construction that also consisted of: (i) ~US$95 million (CFA 52.5 billion) senior secured debt facility with Coris Bank International with annual interest rates of 8.0% and 9.0%, and (ii) US$35 million 8.5% convertible debentures issued to Resource Capital Fund VII L.P. and Beedie Investments Ltd.
Orezone Gold Corporation is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.
EURO Ressources S.A. is a French company focused on precious-metal royalties.
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