Placer Dome confident about financing for gold mine

Article Abstract:

Placer Dome Inc. has expressed confidence in finalizing talks by the end of 1998 for the funding of the $575-million Las Cristinas gold mine in Venezuela. The company will obtain the financing through bank loans totaling $250 million, with the rest of the balance consisting of equity, including $80-million in cash already invested. Construction of the project, which is 70%-owned by Placer Dome and 30%-held by state agency Corporacion Venzolana de Guyana, is expected to commence in early 1999, with production to start in late 2000 or early 2001.

Comment:

ExpresseS confidence in finalizing talks by end of 1998 for the funding of the $575-mil Las Cristinas gold mine in Venezuela

Facilities & equipment, Article

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Placer Dome shifts financing deadline

Article Abstract:

Placer Dome Inc of Vancouver, British Columbia, is seeking to complete the financing for its Las Cristinas gold project in Venezuela by the end of the 1st qtr 1999. The mining company is negotiating for a $250-million financing package from a group of lenders. Placer Dome said that the Las Cristinas project, which is estimated to cost $575 million to develop, is slated to start production in mid-2001.

Natural resources

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