Victoria Gold, BNP sign letter for $220M (U.S.) loan

“We look forward to continuing to work with BNPP through the construction and operation of the Eagle gold mine. This fully underwritten commitment is the result of a rigorous due diligence program undertaken by BNPP and their independent engineer, Roscoe Postle Associates Inc., and represents additional third party validation underscoring the exceptional quality of the Eagle gold project,” commented John McConnell, president and chief executive officer. “The loan facility with BNPP provides the majority of the required project funding and leaves the company with flexibility to source the remaining capital. The company will consider various alternatives to raise the balance of required project capital with the aim of minimizing dilution to our existing shareholders.”