- Marathon Gold Corporation (MOZ) has signed a credit-approved commitment letter with Caterpillar Financial Services Limited
- The agreement is for US$81 million in equipment lease financing for the Valentine Gold Project in central Newfoundland
- The lease will be available to the company upon release of the project from its federal environment assessment process and meeting other customary conditions
- Marathon is a Toronto-based gold company advancing its wholly-owned Valentine Gold Project located in the central region of Newfoundland and Labrador
- Marathon Gold Corporation opened trading at $1.74
Marathon Gold Corporation (MOZ) has obtained equipment lease financing from Caterpillar Financial Services Limited for the Valentine Gold Project.
The project is located in central Newfoundland.
Marathon has obtained US$81 million of equipment leasing for Caterpillar trucks, excavators, graders, loaders, and dozers for loading, hauling, road maintenance, waste dump maintenance and primary pit support for the Valentine Gold Project.
The Cat Financial lease will be available to the company upon release of the project from its federal environment assessment process, review of the project’s updated feasibility study, satisfaction of a cost to complete certification, and other customary conditions.
“We are very happy to be announcing today our equipment leasing commitment with Cat Financial, another significant milestone in our project financing arrangements for the Valentine Gold Project,” said Matt Manson, President and CEO of Marathon.
“This agreement will provide financing for the project’s mobile mining equipment through project development and into the first several years of mining operations at an attractive overall cost of capital for Marathon,” he added.
Marathon is a Toronto-based gold company advancing its wholly-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.
Marathon Gold Corporation opened trading at $1.74.