Integra Mining has received a finance facility worth $20m from its project financiers BNP Parabas and Westpac Banks to replace the existing project finance facility.

The new facility is expected to provide the company with financial capacity for future project acquisitions.

Integra’s current project debt stands at $8.4m from the original $45m.

The company’s Randalls Gold Project located in the Eastern Goldfields region of Western Australia, has a defined six year of open pit mine life and its 1.9Mt stockpile contains over 90,000 ounces of gold at a grade of 1.53 g/t gold.

Integra said the mining cost has already been paid.

The company has also announced a $25m private placement earlier which along with the current cash advance facility will help it in advancing exploration activities, repay existing debt, fund future acquisitions and for other working capital purposes.