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Red 5 gets the cash for Siana

GOLD developer Red 5 has accepted a short-term $US25 million ($A25.4 million) prepay financing package, as well as commitments for a $25 million share placement, leaving the company fully financed to complete construction of the Siana gold project in the Philippines.

Kristie Batten
Red 5 gets the cash for Siana

The package is from Sprott Asset Management and Sprott Resource Lending Toronto, and requires Red 5 to deliver 28,700 ounces of gold or the cash equivalent over a 21-month period starting October next...

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