Nothing really new here...just some coverage and a little summary other stuff...

Matthew Hill

TORONTO (miningweekly.com) – TSX-listed White Tiger Gold has entered into a $150-million long-term loan facility, mainly to settle existing debt in Russia and fund exploration and development at its operations in the country.

The British Virgin Island-based company said on Tuesday the loan would be made available in three tranches, with the first two being $40-million dollars each.

The first $40-million will settle existing debt in Russia and pay for an expansion at White Tiger’s Savkino mine that will double yearly production from 2013.

The development of the 80 000 oz/y Nasedkino project, to start producing in 2014, will absorb the second tranche, and the remaining $70-million is subject to further talks between the company and the loan’s provider, Russia-focused VTB Capital.

White Tiger has a stated goal of reaching of 250 000 oz/y in the medium term and 500 000 oz/y in the long term.

Russian investor Maxim Finskiy owned 74% of White Tiger before it merged in September with Century Mining, in which he held a 25% stake.

“With the assistance of VTB Capital, the company has increased its financial strength required to meet its planned development growth targets and advancing White Tiger's goal of being a midtier gold producer,” White Tiger CEO Daniel Major said in a statement.

White Tiger owns mines in Quebec, south-eastern Siberia and Peru.

http://www.miningweekly.com/article/white-tiger-enters-150m-loan-facility-2012-02-01