Fire River Gold (TSX.V:FAU) reached a $7.5 million financing in the form of a secured credit facility from Sprott Resource Lending Partnership that will see Fire River pay a 10% bonus fee in shares to Sprott, a $50,000 structuring fee, and repay the principal at 12% interest, secured by the company’s assets. It’s a great deal for Sprott, for sure. Not so much for the shareholders of the company, now that there entire investment is encumbered by the risk of a default in the repayment of the loan resulting in an empty shell.