Lundin Gold Inc. (TSE:LUG) has released an update.
Lundin Gold Inc. is set to achieve a debt-free status by buying out its entire stream credit facility and offtake agreement for the Fruta del Norte gold mine for $330 million, thus repaying its project finance debt just four years after starting commercial production. This strategic move will increase the company’s free cash flow and enhance its ability to invest in growth and shareholder returns. The transaction is scheduled to close on June 28, 2024, with a final payment due by the end of the third quarter of 2024.
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