Ogier Cayman advises on the $150 million financing of Golden Star Resources
Ogier has acted for Golden Star Resources in connection with its $150,000,000 financing obtained from Royal Gold.
The $150,000,000 financing consists of a $20,000,000 term loan from Royal Gold, Inc. and a $130,000,000 stream transaction with Royal Gold, Inc.’s wholly-owned subsidiary, RGLD Gold AG.
Golden Star Resources Ltd. is an international gold mining and exploration company producing gold in Ghana, West Africa. The financing will facilitate the development of the company’s Wassa and Prestea underground mines located in Ghana.
Ogier worked with Fasken Martineau, Canadian counsel to Golden Star Resources. Managing associate James Heinicke, partner Bradley Kruger and associate Ridhiima Kapoor provided Cayman Islands advice on the financing.
Bradley Kruger said: “I think we will continue to see a number of non-traditional funding transactions in the mining sector. We have the experience and expertise to assist our clients in these types of deals, in addition to capital market transactions.”