Klondex Mines increased the borrowing capacity of its credit facilities by $10 million to $45 million.
The increase includes an addition of $5 million in the revolving credit facility to $40 million and an additional working capital tranche of $5 million.
During Q4/17, Klondex utilized the revolver to purchase 8,000 gold ounces at $1,269 per ounce and delivered them against its outstanding gold loan to Franco-Nevada, one year early. The gold loan is now paid in full.
Barry Dahl, the company’s CFO, said, “It’s been a pleasure working with Investec Bank since 2016. Over the years, Investec has been flexible to structure the credit facilities to match the growth of the company.”
Klondex is a junior-tier gold and silver mining company focused on exploration, development and production.
