Hedging Transactions
Wright Legal has extensive experience in over-the-counter (ISDA) and exchange traded hedging transactions across metals, currencies, interest rates, and other commodities and asset classes, including for the following clients and mining assets:
- Bellevue Gold Limited - A$200m project finance facility for the Bellevue Gold Project in the Eastern Goldfields of WA with Macquarie Bank, together with hedging line.
- Mincor Resources NL - nickel operations in Kambalda region, Western Australia.
- Northern Star Resources Limited - FX hedging for ‘Super Pit’ acquisition completion payment; gold hedging for multiple mining assets.
- Saracen Mineral Holdings Limited - FX hedging for ‘Super pit’ acquisition completion payment; gold hedging for multiple mining assets.
- Capricorn Metals Ltd - Karlawinda gold project in the Pilbara region, Western Australia.
- Panoramic Resources Limited - Savannah nickel, copper and cobalt Project in the East Kimberley, Western Australia.
- Dacian Gold Limited - Mt Morgans gold Project in Laverton, Western Australia.
- Resolute Mining Limited – multiple mining assets.
- Saracen Mineral Holdings Limited - multiple mining assets.
- Troy Resources – Karouni gold Project in Guyana.
- Sirius Resources NL - Nova-Bollinger nickel and copper project in Western Australia.
- Alkane Resources Limited - Tomingley gold Project in New South Wales.
- Beadell Resources - Tucano gold Project in Brazil.
- Mirabela Nickel – Santa Rita nickel Project in Brazil.
- Cedar Woods Properties – corporate group arrangements.
- Adamus Resources - Nzema gold Project in Ghana.
Image copyright Panoramic Resources Limited
Spotlight on Panoramic Resources
When Panoramic Resources Limited secured $40 million project financing and nickel and copper hedging lines with Macquarie Bank Limited this signaled the restart of the Savannah nickel, copper cobalt project in the East Kimberley in Western Australia.
Our team of banking and finance lawyers at Wright Legal were pleased to work on this significant transaction for Panoramic, which took the Savannah Project to being fully funded.
The restart of the Savannah Nickel Operation was announced in April 2021, which was the culmination of activities designed to reduce operating and financial risk for the operation as well as improve expected profitability. Our team provided advice on this debt financing and offtake arrangements with Trafigura. Panoramic managing director and chief executive officer Victor Rajasooriar said “It’s fantastic to see the careful planning and hard work undertaken over the past 12 months culminate in the commencement of processing ahead of schedule.” Read more in the Australian Mining News Here.
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