Gold mining company Caldas Gold on Monday announced a streaming transaction with Toronto-listed Wheaton Precious Metals as a first step in securing the project financing required to expand operations and build Colombia’s “next major gold mine”.
TSX-V-listed Caldas said it entered into a nonbinding term sheet for $110-million pursuant to a precious metals purchase agreement to be entered into with Wheaton subsidiary Wheaton Precious Metals International (WPMI), the proceeds of which would be used to fund the expansion of mining operations in the Deeps Zone (MDZ) at the Marmato project.