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Tuesday, March 31, 2020 - 4:31:42 PM
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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
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