- Write by:
-
Tuesday, March 31, 2020 - 4:31:42 PM
-
632 Visit
-
Print
Mining News Pro - Nevada Copper, which owns Pumpkin Hollow in Nevada, in the US, has closed several previously announced balance sheet strengthening transactions, including amendments to its senior credit facility with KfW IPEX-Bank and amendments to the metals purchase and sales agreement with an affiliate of Triple Flag Precious Metals (TFPM).
According to Mining News Pro - The amendments to the facility with KfW IPEX-Bank would provide for $12.2-million in payment deferrals through the re-sculpting of certain amortisation and debt service reserve account payments.
An amendment to the agreement with TFPM provided for an additional $15-million in payments to Nevada Copper.
The company also concluded a new net smelter return royalty agreement with an affiliate of TFPM over its openpit project and Tedeboy exploration property. The company has received an aggregate of $20-million as the purchase price for these royalties.
Nevada Copper issued TFPM 15-million common share purchase warrants at an exercise price of C$0.225.
Further, the miner said it had closed a new convertible loan facility with Pala Investments for $30-million, which extended and replaced the $30-million unsecured credit facility the company entered into with Pala on November 29, 2019.
Nevada Copper and Pala intend to seek additional investors to which Pala may syndicate a portion of the convertible loan up to a maximum amount of $12-million.
It also concluded a backstop agreement with Pala and an affiliate of TFPM, providing for up to $20-million, which would be available for the company to call on if required until December 31, 2021 if it was unable to raise capital from other sources.
Short Link:
https://www.miningnews.ir/En/News/508781
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
Australia’s Fortescue said on Monday it would form a joint venture with OCP Group to supply green hydrogen, ammonia and ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Mining News Pro - The ceremony of commemorating the tree planting day and the beginning of the afforestation project and ...
No comments have been posted yet ...