Blue Gold has secured $140m (CI$116.42) in committed funding to finance the restart of the Bogoso and Prestea gold mine in the western region of Ghana. The financing comprises a new $65m secured loan and a previously announced $75m equity line of credit that remains undrawn. The funding is aimed exclusively at restarting the 5.1 million-ounce (moz) Bogoso and Prestea gold mine in Ghana, contingent on settling a lease dispute with the Government of Ghana. According to the company, the $65m commitment, pr ...

Core Viewpoint - Blue Gold Limited has secured an additional $65 million in funding to restart the Bogoso and Prestea gold mine in Ghana, increasing the total committed capital to $140 million [1][7]. Funding Details - The new funding is structured as a secured loan from a new institutional investor, specifically for the restart of the 5.1 million ounce Bogoso and Prestea gold mine [2]. - The funds are currently held in escrow and are contingent upon resolving a lease dispute with the Government of Ghana [2]. Company Strategy and Operations - The CEO of Blue Gold Limited, Andrew Cavaghan, emphasized the company's capability to restart the mine and bring it back into full production [3]. - The company is involved in international arbitration regarding the legality of the previous Ghana administration's actions that hindered investment in the mine [3]. - Operating the Bogoso and Prestea mine aligns with Blue Gold's strategy to tokenize its gold production, aiming to launch the world's first global gold-backed currency through its Digital Division [3][7]. Company Overview - Blue Gold Limited is focused on acquiring high-potential mining assets globally and aims to unlock value in the gold sector through innovative monetization models, including asset-backed digital instruments [4]. - The company prioritizes growth, sustainable development, and transparency in its business practices, aiming to minimize its environmental footprint while creating shareholder value [5].

Core Viewpoint - Blue Gold Limited has secured an additional $65 million in funding to restart the Bogoso and Prestea gold mine in Ghana, increasing total committed capital to $140 million [1][7]. Funding Details - The new funding is structured as a secured loan from a new institutional investor, specifically for the restart of the 5.1 million ounce Bogoso and Prestea gold mine [2]. - The funds are currently held in escrow and are contingent upon resolving a lease dispute with the Government of Ghana [2]. Company Strategy and Operations - The CEO of Blue Gold Limited expressed confidence in the company's ability to restart the mine and bring it back into full production [3]. - The company is prepared to drop litigation with the Government of Ghana if the lease dispute is resolved quickly [7]. - Operating the Bogoso and Prestea mine aligns with the company's strategy to tokenize its gold production, aiming to launch the world's first global gold-backed currency through its Digital Division [3][7]. Company Overview - Blue Gold Limited focuses on acquiring high-potential mining assets and aims to unlock value in the gold sector through innovative monetization models, including asset-backed digital instruments [4]. - The company emphasizes responsible development, operational transparency, and sustainable practices in its business operations [5].

Zimbabwe has no new plan to extend use of the dollar beyond 2030, when the nation is expected to fully switch to using its gold-backed currency as sole legal tender https://t.co/F7KeitRuWY ...

Zimbabwe should focus on its gold-backed currency which is set to become the sole legal tender in 2030, senior central banker says. https://t.co/v5okeQjcBG ...

Zimbabwe's central bank has outlined goals it must first achieve before adopting its gold-backed unit, the ZiG, as the sole currency https://t.co/8Av8IYGawq ...

Currency Performance - Zimbabwe's gold-backed currency, ZiG, recorded its largest single-day gain against the US dollar this year [1]