Discovery Mining Ltd. increased its senior secured revolving credit facility to $400 million from $250 million. This 60% commitment increase features improved pricing and reduced standby fees. The company extended the facility's maturity date by nearly two years to July 30, 2030.
The expanded capital supports plans to more than double annual gold production to over 500,000 ounces. Discovery is targeting this growth through investments in its Porcupine assets in Timmins, Ontario. The upsized facility provides the financial capacity to execute these expansion projects.