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Cours Or & Argent
Golden Queen secures an advance with Leucadia and Auvergne for the ongoing development of its Soledad Mountain Project
Published : July 02, 2014
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Golden Queen secures an advance with Leucadia and Auvergne for the ongoing development of its Soledad Mountain Project

VANCOUVER, July 2, 2014 /CNW/ - Golden Queen Mining Co. Ltd.  (TSX:GQM; OTCQX:GQMNF) (the "Company") is pleased to announce that the Company's wholly-owned subsidiary, Golden Queen Mining Company, Inc. (the "Subsidiary") has entered into a loan agreement with Leucadia National Corporation ("Leucadia") and Auvergne, LLC, an entity controlled by certain members of the Clay family ("Auvergne", and together with Leucadia, the "Lenders"), with the Company as guarantor, in respect of an advance of US$10,000,000 (the "Loan") by the Lenders (as to US$6,500,000 from Leucadia and US$3,500,000 from Auvergne) to the Subsidiary. The Loan is secured and senior to existing debt and proceeds will be used to advance the development of the Soledad Mountain Project until the closing of the joint venture transaction with Gauss LLC (see June 9, 2014 news release) (the "JV Closing").

The maturity date of the Loan will be the earlier of: (a) the date of the JV Closing and (b) September 30, 2014.  In the event the JV Closing occurs later than September 30, 2014, the maturity date can be extended to December 1, 2014 by paying a US$1,000,000 extension fee, which extension fee will not be payable if the JV Closing occurs before the extended maturity date. 

The repayment of the Loan, accrued interest and extension fee, if any, will be funded from the proceeds of the joint venture transaction upon the JV Closing.

The Loan will bear interest at a rate of 10.0% per annum, compounded monthly. After the occurrence and during the continuation of an event of default, interest on the Loan will accrue at a rate of 12.0% per annum.

No finder's fee or commission will be paid in connection with the Loan.

About Golden Queen Mining Co. Ltd:

The Company is developing a gold-silver, open pit, heap leach operation on its fully-permitted Soledad Mountain property, located just outside the town of Mojave in Kern County in southern California. The Soledad Mountain Project will use conventional open pit mining methods and the cyanide heap leach and Merrill-Crowe processes to recover gold and silver from crushed, agglomerated ore.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.

Cautionary Note and Forward Looking Statements

The information in this news release includes certain "forward-looking statements". All statements, other than statements of historical fact included herein including, without limitation, plans for and intentions with respect to the Company's properties, statements regarding intentions with respect to the use of proceeds of the Loan, development of the Soledad Mountain Project, repayment of the Loan, anticipated JV Closing and Toronto Stock Exchange approval and similar information are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could influence forward looking statements, include uncertainties involving the timing of regulatory review and shareholder approval of the joint venture transaction with Gauss LLC; anticipated costs and expenses related to the development of the Soledad Mountain Project; uncertainties involved in the interpretation of the estimation of reserves and resources; risks of construction and mining projects; unexpected cost increases; fluctuations in metal prices and currency exchange rates, changes in mining laws, additional regulatory requirements in connection with mining permits, and other risks and uncertainties disclosed in Golden Queen's Annual Report on Form 10-K for the year ended December 31, 2013, filed with U.S. and Canadian securities regulatory authorities and in other reports and documents filed with applicable securities regulatory authorities from time to time. These forward looking statements reflect the beliefs, opinions and projections on the date the statements are made. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Golden Queen's business, including risks inherent in mineral exploration and development. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, should not to put undue reliance on forward-looking statements.

SOURCE Golden Queen Mining Co. Ltd.

For further information: regarding this news release please contact Lutz Klingmann, President, Telephone: (604) 921-7570, Email: lklingmann@goldenqueen.com

Golden Queen Mining

EN DÉVELOPPEMENT
CODE : GQM.TO
ISIN : CA38115J1003
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Golden Queen est une société développant des projet miniers d'or basée au Canada.

Golden Queen est en développement de projets d'or et d'argent en USA.

Son principal projet en développement est SOLEDAD en USA.

Golden Queen est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 2,8 millions CA$ (2,1 millions US$, 1,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 23 septembre 2011 à 3,95 CA$, et son plus bas niveau récent le 25 juillet 2019 à 0,02 CA$.

Golden Queen possède 111 050 000 actions en circulation.

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Financements de Golden Queen Mining
31/12/2014secures loan financing
Nominations de Golden Queen Mining
31/05/2013Appoints New Board Members
Rapports Financiers de Golden Queen Mining
10/08/2016Golden Queen Announces Financial Results for the Second Quar...
10/11/2014reports financial results for the third quarter of 2014
11/08/2014Announces Financial Results and Review of Operations for the...
17/03/2014reports year end results and provides a construction update
13/11/2013Files Financial Statements
18/02/2011 Quarterly Report
Projets de Golden Queen Mining
13/04/2015Golden Queen comments on a US Fish and Wildlife Service noti...
25/11/2014(Soledad)Company Ltd. provides update on the Soledad Mountain Project
15/09/2014(Soledad)announces closing of joint venture to develop and operate th...
09/06/2014(Soledad)announces joint venture to develop and operate the Soledad M...
25/10/2012(Soledad)Files Updated Feasibility Study Report for Soledad Mountain ...
08/04/2011(Soledad)ANNOUNCES UPDATED FEASIBILITY STUDY FOR SOLEDAD MOUNTAIN PRO...
Communiqués de Presse de Golden Queen Mining
25/07/2016Golden Queen Completes C$16.1 Million Bought Deal Financing
14/07/2016Golden Queen Announces C$13 Million Bought Deal Financing
13/07/2016Golden Queen Annouces Proposed C$13 Million Unit Financing
09/06/2016Golden Queen Provides A Project Update
06/06/2016Golden Queen Provides A Project Update
03/06/2016Golden Queen Announces Voting Results of Annual General Meet...
10/05/2016Golden Queen Announces Financial Results for the First Quart...
01/02/2016A Look Inside the Chart, Technical Insights - Analyst Notes ...
21/01/2016Direction of Market Influences -- Featured Research on Salee...
14/01/2016Today's Market Driven by Key Factors - New Research on Trans...
05/01/2016Golden Queen Begins Commissioning of Processing Facility and...
04/01/2016Golden Queen Begins Commissioning of Processing Facility and...
04/01/2016Golden Queen Begins Commissioning of Processing Facility and...
13/08/201510-Q for Golden Queen Mining Co. Ltd.
13/08/201510-Q for Golden Queen Mining Co. Ltd.
10/08/2015Golden Queen Announces Senior Management Changes And Reports...
10/08/2015Golden Queen Announces Senior Management Changes and Reports...
14/05/201510-Q for Golden Queen Mining Co. Ltd.
14/05/201510-Q for Golden Queen Mining Co. Ltd.
05/05/201510-K for Golden Queen Mining Co. Ltd.
05/05/201510-K for Golden Queen Mining Co. Ltd.
13/04/2015Golden Queen Comments on a US Fish and Wildlife Service Noti...
16/03/2015Golden Queen Reports Financial Results for the Year Ending D...
16/03/2015Golden Queen reports financial results for the year ending D...
27/02/2015Golden Queen Mining Company Ltd. Announces Filing of NI 43-1...
27/02/2015Golden Queen Mining Company Ltd. Announces Filing of NI 43-1...
10/02/2015Company Ltd. provides update on resource estimates, reserve ...
01/01/2015Golden Queen Secures Loan Financing
03/12/2014CANADA STOCKS-TSX set to open lower ahead of Bank of Canada ...
26/11/2014Golden Queen Mining Company Ltd. Provides Update on The Sole...
11/11/2014Golden Queen Reports Financial Results for the Third Quarter...
09/09/2014Company Ltd. shareholders approve the joint venture with Gau...
31/07/2014announces date for Extraordinary Shareholder Meeting to appr...
31/07/2014announces date for Extraordinary Shareholder Meeting to appr...
02/07/2014(Soledad)secures an advance with Leucadia and Auvergne for the ongoin...
22/04/2014on the Center for Biological Diversity Emergency Petition
27/03/2014provides a construction update and updates its capital cost ...
03/02/2014Petition Filed with the United States Fish and Wildlife Serv...
06/01/2014(Soledad)secures interim financing for the ongoing development of its...
09/12/2013provides a construction update
08/10/2013Proposed Extraordinary General Meeting to Increase Authorize...
25/07/2013Announces $10 Million Private Placement
30/04/2013Appointment of Project and Construction Manager
11/09/2012Begins Trading on OTCQX International
17/05/2011(Soledad)ANNOUNCES FILING OF FEASIBILITY STUDY FOR SOLEDAD MOUNTAIN ...
21/01/2011 Financials
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