Minerals 260 secures $282m funding for Bullabulling gold project The project contains gold resources estimated at 6.2moz. Credit: Wirestock Creators/Shutterstock.com. · Mining Technology · Wirestock Creators/Shutterstock.com. Shree Mishra Wed, November 11, 2026 at 7:57 AM EST 2 min read MI6.AX +3.53% GC=F +0.47% NAB.AX -1.51% Minerals 260 has secured credit approved commitments totalling A$410m ($282.6m) to fund the development of its Bullabulling Gold Project in Western Australia.
The company has signed a term sheet and commitment letter with Australia and New Zealand Banking Group (ANZ), National Australia Bank (NAB), and Societe Generale for A$335m project finance facility and A$75m working capital facility (WCF).
The Bullabulling Gold Project, located approximately 65km from Kalgoorlie, is wholly owned by Minerals 260 and contains gold resources estimated at 6.2 million ounces (moz).
According to the company, the combined funding from the new debt facilities, royalty funding provided by Franco-Nevada, and the proceeds from a recent equity raising will fully finance the project through to its first gold production.
The terms of the debt facilities include a seven-year amortising facility with a bullet repayment at maturity for the project finance portion, and a four-year term for the working capital component.
The interest rate for the debt will be less than 3% above the bank bill swap bid rate (BBSY), and interest will be capitalised during the construction period.
Minerals 260 stated that the debt facilities were agreed after completion of a pre-feasibility study (PFS), due diligence, and an independent technical expert report.
The financial close of the facilities is expected in the first quarter of calendar year 2027, with initial draw down projected by the end of 2027, subject to completion of the definitive feasibility study, final due diligence, and other customary conditions.
Minerals 260 managing director Luke McFadyen said: "This represents another major milestone for Minerals 260 and a key pillar of our funding strategy to bring Bullabulling into production.
"We are pleased to have agreed terms with ANZ, NAB and Societe Generale. Obtaining credit approved terms before the completion of the DFS and the highly competitive debt funding process reflects the high quality, high margin and long-life aspects of Bullabulling."
In January 2025, Minerals 260 acquired the Bullabulling project from Norton Gold Fields, part of China's Zijin Mining, for A$166.5m.
"Minerals 260 secures $282m funding for Bullabulling gold project" was originally created and published by Mining Technology, a GlobalData owned brand.
