ECIJA GPA advises FNC and Torys on Cascabel Project
ECIJA GPA has advised Franco-Nevada Corporation (FNC) and Torys on a deal through which FNC acquired a gold stream from SolGold with reference to the production of the Cascabel project located in Ecuador.
FNC partnered with Osisko’s subsidiary, Osisko Gold Royalties, to provide a syndicated financing package on a 70%/30% basis. FNC will provide a total of $525 million and Osisko will provide a total of $225 million, for a total of $750 million. This financing includes $100 million in pre-construction funding and $650 million for construction once the project is fully funded and de-risked.
Solgold’s Cascabel mining project is one of the largest copper and gold development projects in the world.
ECIJA GPA’s team was led by partner Álvaro Ordóñez (pictured), with support from Michael Veintimilla, María Belén Vivero, Camila Andrade, Juan Domingo Cárdenas and Andrés Villacis.
