Nevada Copper Extends and Increases Bridge Loan Facility

Nevada Copper Corp. (TSX:NCU) announced that it has extended the maturity date of its US$15 million bridge loan facility with Pala Investments Limited to January 31, 2016, while also increasing the maximum principal amount of the Loan Facility to US$25 million.
As quoted in the press release:

The loan facility is secured against the company’s assets but is subordinate to the security granted in connection with the $200-million (U.S.) senior credit facility with RK Mine Finance announced by the company on Dec. 30, 2014. The other terms of the Loan Facility remain unchanged. The Loan Facility will be drawn down as required.

Giulio Bonifacio, President and CEO of Nevada Copper, comments:

“This extension and increase of the bridge loan further confirms Pala’s continued support as our largest shareholder. This support most importantly allows Nevada Copper to continue advancement of the Pumpkin Hollow Copper Project, while evaluating several financing and development options.”
“In view of the capital markets and valuations in what has been an extremely challenging period in the mining sector, the support of Pala further enhances our ability to maximize value for all our shareholders.”

Click here for the fullNevada Copper Corp. (TSX:NCU) press release.
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