Harte Gold brings banker on board for strategic review of White River mine – by Staff (Northern Ontario Business – June 10, 2021)


Gold producer sets the bar high in seeking financing to expand mine, boost production, build more ounces

Scotiabank is assisting Harte Gold in a strategic review of its Sugar Zone Mine near White River.

The banker is working with the Toronto gold miner, which needs a cash injection to further develop the three-year-old mine, boost production, and meet its debt obligations to its lenders.

A month ago, the company launched the review after falling short in some key performance areas and failing to reach some ambitious targets at the underground mine over the last year.

Management said all options are on the table during this process, which could involve debt restructuring, an equity investment with a strategic partner, a business combination with another mining company, or even a sale.

In a June 9 news release, Harte said a number of interested parties have come forward to sign confidentiality agreements and they’ve been given access to Harte’s data room to do their due diligence. A U.S.-based debt advisor is also on board to evaluate potential debt financing solutions.

For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/harte-gold-brings-banker-on-board-for-strategic-review-of-white-river-mine-3861096