Sydney, Nov 18, 2005 AEST (ABN Newswire) - Climax Mining Ltd (ASX: CMX) has appointed Fiona Robertson to lead the company's financing initiatives for the Dinkidi gold/copper project in the Philippines.
Fiona will work with company management and legal consultant Julie Hasan-Newing on arrangements with lenders and other potential providers of funding with the objective of having funds in place for commencement of development in the second half of 2006.
It is anticipated that the majority of the US$81 million capital requirement will be raised from a project financing loan provided by a syndicate of banks.
Discussions with potential arrangers of a project debt facility are well advanced and appointment of a lead arranger is anticipated in first quarter 2006. Fiona has over twenty years experience in corporate finance including more than fifteen years in the resources sector both as a banker and as Chief Financial Officer of Delta Gold NL. This experience includes arranging project financing for a number of international gold mining projects.
Contact
Barry Wells CFO
Climax Mining Ltd
Suite 2, Level 14 BT Tower
1 Market Street, SYDNEY, NSW 2000
TEL: +612 9262 7061
FAX: +612 9264 5620
www.climaxmining.com.au
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