On January 6, 2020, Samsung C&T U.K. Limited announced it has entered into a US$11.25 million gold doré prepayment agreement with Great Panther Mining Limited. Samsung has agreed to advance a US$11.25 million prepayment to Great Panther conducive to the delivery and sale of approximately 3,000 ounces of gold contained in doré per month over a two year period.
Samsung C&T U.K. Limited is a subsidiary of Samsung C&T Corporation and a part of the Samsung Group with a focus on global business and lifestyle innovations through their engineering and construction, trading and investment, fashion and resort groups.
Great Panther Mining Limited is an intermediate gold and silver mining and exploration company. Great Panther operates three mines including the Tucano Gold Mine, the Guanajuato Mine Complex an the Topia Mine. Great Panther also owns the Coricancha Mine project.
Osler, Hoskin & Harcourt LLP advised Samsung C&T U.K. with a team consisting of Alan Hutchison (Corporate), Richard Wong (Commercial), Martha Martindale (Financial Services) and Meaghan McCune (Corporate).