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Nevada Copper Corp. (TSX:NCU) executed a US$24 million equipment finance facility with Caterpillar Financial Services Corporation, forming part of the overall project capital funding package for Nevada Copper’s Stage 1 Underground Operation which is currently under construction.
As quoted in the press release:
A major component of this project capital funding package, a US$200 million Red Kite loan facility, was previously announced on March 28, 2013. Of the Red Kite facility, US$36 million has been drawn down and a further US$15 million will be advanced by October 9, 2013 as a result of receiving all project permits. Upon receipt of the US$15 million from Red Kite, Nevada Copper’s cash position will be approximately US$60 million, with further US$173 million of funding available (US$149 million from the Red Kite loan facility and the US$24 million Equipment Financing from Cat Financial). The Equipment Financing is subject to certain conditions precedent typical for such financings. Further elements of project capital funding will be announced as they are finalized.
Click here to read the Nevada Copper Corp. (TSX:NCU) press release
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