TSX-listed Midas Gold has entered into funding agreements for gross proceeds of $35-million to be used for funding continued work on the Stibnite gold project, in Idaho, US.
The company said it would raise at least C$33.2-million, or about $25-million, from Paulson & Co, which on behalf of the several investment funds and accounts managed by it, would purchase Canadian-dollar denominated 0.05% senior unsecured convertible notes on a private placement basis.