Steve Parsons, National Bank Financial (1/14/13) "Detour Gold Corp. closed a $45M secured credit facility. . .the facility further bolsters the company's balance sheet, leaving Detour Gold in a favorable position ahead of production. . .while the ride is sure to be bumpy, we view as favorable the company's imminent production start (Jan. 2013), recently bolstered balance sheet and a valuation that we believe is adequately discounting ramp-up risk. . .we reiterate our Outperform rating and $38 target."
John Hayes, BMO Capital Markets (1/14/13) "Detour Gold Corp. announced that it has obtained a CA$45M senior secured letter of credit facility. The credit facility was activated in December 2012 with the drawdown of CA$28.3M; the proceeds were used to replace cash collateralized bonds for the Detour Lake reclamation plan. . .the company expects to close a CA$90M revolving credit facility in Q2/13. . .the credit facility provides working capital flexibility as the company moves from construction through ramp-up and production.