Money raised going to pay debt, capex and general corporate purposes

As promised in this post, I found out where the money raised by GG is going. According to this report, $330 million is going towards paying its outstanding indebtedness under its revolving credit facility. The remaining $530 million is going towards CAPEX and general corporate purposes.

I think this was a great move by GG. First of all, they are taking advantage of the current market conditions to get competitive rates on its debt; these convertible notes only bear a 2% interest. Secondly, GG is ensuring that they have enough cash on hand for capital expenditures required by promising mines in their early development stage.

Iyad Atuan