Blue Gold Limited, has announced an additional $65m1 of committed funding available to finance the restart of the Bogoso and Prestea gold mine in Ghana, bringing the total committed capital to $140m1.
The funding, which comes from a new institutional investor, is structured as a secured loan for the exclusive purpose of financing the restart of the 5.1m oz Bogoso and Prestea gold mine in Ghana.
The funds are being held in escrow with lawyers, conditional on the resolution of the lease dispute with the Government of Ghana.
Commenting on the new funding, Andrew Cavaghan, Chief Executive Officer, said: “This funding, along with the amount that is already committed, clearly evidences our capacity to invest and restart in the mine to bring it back into full production.”
“The former Ghana administration took steps in September 2024 to prevent us from investing funds secured for the restart the mine by wrongfully terminating the Bogoso and Prestea mining lease. We immediately disputed the legality of this action, and the matter is now in international arbitration.”
“We are confident to reach a resolution of this dispute, including settlement, to ensure that this important mine is brought back into production as quickly as possible.”
According to the Blue Gold Limited, operating the Bogoso and Prestea mine ties in with the Company’s strategy to tokenise its gold production to create the world’s first global, gold-backed currency, which it is preparing to launch through its recently launched Digital Division.
About Blue Gold
Blue Gold Limited (Nasdaq: BGL) is a next-generation gold development company focused on acquiring and aggregating high-potential mining assets across strategic global jurisdictions. The Company’s mission is to unlock untapped value in the gold sector by combining disciplined resource acquisition with innovative monetization models, including asset-backed digital instruments. Blue Gold is committed to responsible development, operational transparency, and leveraging modern financial technologies to redefine how gold is produced, accessed, and owned in the 21st century.
Blue Gold prioritizes growth, sustainable development, and transparency in its business practices.
“We believe that our commitment to responsible mining will enable us to create value for our shareholders while minimizing our environmental footprint,” the statement read.
credit: citinewsroom.com
