Blue Gold secures $140m to restart Bogoso and Prestea gold mine

Core Viewpoint - Blue Gold has secured $140 million in committed funding to restart the Bogoso and Prestea gold mine in Ghana, contingent on resolving a lease dispute with the government [1][2]. Funding Details - The funding includes a new $65 million secured loan and a previously announced $75 million equity line of credit that remains undrawn [1]. - The $65 million loan is provided by a new institutional investor and is specifically structured to finance the mine's restart [2]. Legal and Operational Context - The funds are currently held in escrow pending the resolution of the lease dispute with the Government of Ghana [2]. - Blue Gold is willing to drop litigation against the government if the lease issue is resolved promptly [2]. - The company is currently involved in international arbitration regarding the legality of the government's termination of the mining lease [3]. Strategic Initiatives - The operation of the Bogoso and Prestea mine aligns with Blue Gold's strategy to tokenize its gold production to create a global, gold-backed currency [4]. - The company is preparing to launch this initiative through its recently established digital division [4]. Company Focus - Blue Gold is focused on acquiring and consolidating high-potential mining assets in key jurisdictions worldwide [5].