Dynacor Enters US$20 Million Gold Facility for Its Ecuador Plant
Photo: TokenPost
Dynacor Group Inc. agreed with Auramet International on an unsecured facility for gold sales and prepayments, capped at US$20 million, as it prepares its Ecuador plant for production. The limit applies to outstanding prepayments and gold that has not yet been delivered, counted together. It does not mean Dynacor received US$20 million in cash. The company plans to use net proceeds for working capital, particularly to build inventory for the Svetlana plant, and has not disclosed how much it has drawn. The agreement runs for two years and may be extended in one-year increments by mutual agreement.
Source: TokenPost
