On February 13th last week, Torex Gold Resources Inc. (TXG. TO) a Canadian gold development company with operations in Mexico, announced that 11 of the 13 company workers who had been abducted the week before had now been safely returned. As a result, construction activities at Torex’s main gold development project, its El Limon Guajes… Continue Reading
The Market Vectors Junior Gold Miners ETF (or GDXJ) is an ETF administered by Van Eck and created to replicate the Global Junior Gold Miners Index which is a basket of small-cap gold exploration, development and production companies. The GDXJ tries to maintain an average market cap of its holdings above $150 million. According to recent… Continue Reading
This morning Torex Gold (TXG:TSX) which has $90 million of warrants expiring tomorrow at an exercise price of $1.50, announced that they have signed a credit agreement with a syndicate of lenders for the previously announced $375 million project finance facility. This money is ear-marked for the development of the El Limon-Guajes project and represents… Continue Reading
Torex Gold (TXG:TSX), the owner and developer of one of the richest undeveloped open-pit gold mines in the world, has provided an update on how well the development of their Morelos project in Mexico is going (start-up scheduled for late 2015) as well as the latest results from their infill drilling program. The company has begun mining… Continue Reading
This morning, the long awaited financing piece for Torex’s (TXG:TSX) Morelos project has been found. The company announced it has signed a commitement letter with six banks, including Bank of Montreal, BNP Paribas, SocGen, Commonwealth Bank of Australia, ING and Bank of Nova Scotia for a US$375 million, 8.25 year project debt facility. This package fully-funds Torex to complete their 21… Continue Reading
