Detour Gold Secures $105-Mln Financing Pact for Heavy Equipment Purchases

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Detour Gold Corp (DGC.TO) is building on its recent gains and is now up nearly 10% after finalizing a deal with Caterpillar Financial for US$105 mln in mobile fleet equipment financing to pay for Detour's leasing and eventual purchase of mining equipment.

Toromont Industries Ltd (TIH.TO), which sells most Catepillar Inc. ( CAT ) equipment sold throughout Canada, is coordinating the fleet sale which will used at the miner's Detour Lake gold project in northwest Ontario. Delivery is expected to start in mid-2011.

Toromont shares are up about 1% to 31.20this afternoon; CAT shares were down fractionally to $98.37 each.



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This article appears in: Investing , Commodities

Referenced Stocks: CAT

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