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Market: ASX
Sector: General Mining - Gold
EPIC: MOY
Latest Price: A$0.02  (-5.26% Descending)
52-week High: A$0.02
52-week Low: A$0.01
Market Cap: A$62.10M
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Millennium Minerals
www.millenniumminerals.com.au

Millennium Minerals Limited (ASX:MOY) is an emerging metals company focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia. The high-quality portfolio encompasses a large gold inventory and a secondary molybdenum project.

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Millennium Minerals ticks project financing box with BNP Paribas mandate

18th Aug 2010, 8:32 am

Emerging gold producer, Millennium Minerals (ASX: MOY), has achieved a significant milestone in nudging its Nullagine gold project into development with a $35 million project finance mandate with BNP Paribas.

BNP has been tapped by Millennium as exclusive arranger and underwriter for the provision of the Construction, Cost Overrun, Performance Bond and Risk Management Facilities for the purposes of funding the construction and development of the Nullagine Gold Project in Western Australia.

Millennium is aiming to develop a large tenement portfolio in the East Pilbara region of Western Australia, that includes gold resources of 1.16 million ozs and a secondary molybdenum project.

The green fields Nullagine Gold Project offers the company a significant opportunity to develop a multiple deposit, open pit based operation, forecast to mine 7.98 Mt over 7 years.

BNP Paribas is a leading international  with expertise and capability in project finance in the mineral resource sector.

The $35 million credit approved facilities are subject to completion of legal due diligence and documentation, expected to be finalised over the next few months and will be available subject to satisfaction of certain conditions precedent which includes raising the necessary equity component of the financing.

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