Orla Mining to buy Newmont's Musselwhite gold mine project in Ontario (updated)

Orla Mining

18/11/2024 11:13

(Adds details on the deal from paragraph 2 onwards)
       Nov 18 (Reuters) - Canadian miner Orla Mining  OLA.TO 
said on Monday it would buy the Musselwhite Gold Mine in Ontario
from Newmont  NEM.N  in a $850 million all-cash deal, part of
which is contingent on gold prices.
    Orla said the deal will be funded through a combination of
cash, existing undrawn debt capacity, new indebtedness, a gold
pre-pay facility and convertible bonds led by its existing
cornerstone investors.
    The company said the deal would help more than double its
gold production to over 300,000 ounces.
         

 (Reporting by Sourasis Bose in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Sourasis.Bose@thomsonreuters.com;))