Cat Financial in mining fleet deal

Caterpillar Financial Services Corporation (Cat Financial), is to provide up to $20 million in mining fleet equipment financing for Atlantic Gold Corporation, which will be used on the company’s Moose River Consolidated Project (MRC Project) in Nova Scotia.

Atlantic Tractors & Equipment Ltd will use the funding to acquire the primary mining fleet and ancillary equipment, with deliveries expected to commence arriving at site in mid-2016 and be completed in late 2017. The term of the equipment facility will be five years.

Steven Dean, chairman and CEO commented, “Atlantic is pleased to engage in another transaction with Cat Financial in respect of an equipment finance facility that will facilitate the purchase of a first-class mining fleet for our MRC Project. The result of our negotiations and work with Cat Financial is a competitive approach with benefits beyond the contract mining assumptions in our August 2015 feasibility study.”