Mining companies keep obtaining credit lines

We already told it but we’ll say again: crisis doesn’t mean an end. So today we will tell some good news, of mining companies that keep obtaining credit lines and/or making business even the storm keeps on:

- In early February, Osisko Mining closed a US$ 272 million deal to complete the Malartic gold project in Quebec;
- Kinross completed a US$ 415 million public equity offering, whose money will be used to pay for recent acquisitions;
- Gold Wheaton finished a US$ 90 million equity financing to pay for the purchasing of 25% of the gold produced by First Uranium in South African projects;
- IAmGold raised US$ 233 million to develop Essakane gold mine in Burkina Faso.

These are some of the biggest deals announced in 2009, specially in Canada. And the list goes on: Cameco, Great Basin, Farallon and First Majestic Silver are other companies that also granted their investments even in these sour times; more than a US$ 1.5 billion have been putted by investors in the sector, which proves there is a light at the end of the mine. Money is still tight but there’s no credit crunch to end the best mining projects.