Generation Mining (GENM.TO) has completed another piece of its financing puzzle as it has announced the Canada Infrastructure Bank has received internal credit approval for a subordinated debt facility of C$200M. This amount is structured in a C$110M to help fund the development and construction costs while the remaining C$90M is specifically earmarked for project cost overruns.
Combined with the previously announced senior debt facility, streaming deal and equipment leasing, Generation Mining has now secured C$969M of the approximately C$1.14B capex as per the 2025 feasibility study. As the pieces of the financing puzzle are now falling into place pretty fast, we hope to see the remaining elements of the full construction financing package in the next few weeks so the company can finally kick off the actual development of the copper-palladium mine in Ontario.
Disclosure: The author has a small long position in Generation Mining. Generation Mining is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
