Amulsar Gold Mine

On December 1, 2015, Lydian International Limited (Lydian) announced a US$325 million construction financing package with Orion Mine Finance (Orion) and Resource Capital Funds (RCF) for Lydian's 100%-owned Amulsar Gold Project in south-central Armenia.

The financing is comprised of a US$60 million gold and silver stream, a US$80 million equity private placement, a US$160 million term loan facility and a US$25 million cost overrun facility.

In connection with the financing, Orion and RCF entered into an offtake agreement with Lydian which applies to all of the gold production from the Amulsar Gold Project less gold ounces deliverable under the stream agreement. The financing (not including the cost overrun facility), along with an anticipated equipment lease facility of US$70 million and public equity offering of a minimum of US$25 million, is expected to fully finance construction of the Amulsar Gold Project.

Further information can be found on Marketwired's website.

Lydian International Limited is a gold-focused mineral development company, focused on precious and base metal assets located in Armenia and Georgia.

Orion is a mining-focused investment business with approximately US$1.85 billion under management specializing in providing flexible capital investment solutions to mining companies in the base and precious metals sector.