Lundin Gold is developing the Fruta del Norte gold deposit in southern Ecuador, which has been assessed as one of the largest high-grade ore bodies under development globally. While its considerable gold reserves totalling 4.9 million ounces and exceptional ore grade of 9.16 grams of gold per ton of ore make it a very appealing stock, it is Lundin Gold's ability to secure financing and permits that makes it a compelling investment. By the end of the first quarter 2018, overall engineering at the project was 26% complete and construction was 16% finished. More important, during the quarter, Lundin Gold secured a US$350 million project finance facility from a syndicate of lenders and closed a US$400 million private equity placement. That deal saw it end the first quarter with US$476 million in cash as well as working capital of US$460 million.