Development Financing For Haile Gold Mine Project

Development Financing For Haile Gold Mine Project

TORONTO –  Romarco Minerals reported that the Company, through its subsidiary Haile Gold Mine, Inc., has signed a credit agreement. With respect to its previously announced US$200 million senior secured project finance facility (the "Debt Facility) with no mandatory gold hedging. The Debt Facility will be used for the development of the Haile Gold Mine project in South Carolina.  With the execution of the Credit Agreement, the Haile Gold Mine project as currently proposed is fully financed.  All dollar amounts are in US dollars unless otherwise stated.
Diane Garrett , President & CEO said, "We are pleased to have executed the Credit Agreement for the $200 million Debt Facility with no mandatory gold hedging.  We appreciate the support and confidence of each of the four Lenders and are looking forward to breaking ground and initiating full construction in May 2015, with construction scheduled for 18 months."