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LeadFX (TSX:LFX) announced receipt of favourable changes to the operating conditions at the Paroo Station Mine in Australia. The company has also received a $1 million unsecured, interest-free loan from Sentient Global Resource Fund IV. As quoted in the press release: Pursuant to an amendment made to Ministerial Statement 905, the Mine’s key operating conditions …
LeadFX (TSX:LFX) announced receipt of favourable changes to the operating conditions at the Paroo Station Mine in Australia. The company has also received a $1 million unsecured, interest-free loan from Sentient Global Resource Fund IV.
As quoted in the press release:
Pursuant to an amendment made to Ministerial Statement 905, the Mine’s key operating conditions (the “Operating Conditions”), the Company is now permitted to ship through the Port of Fremantle until July 27, 2024. In addition, the Operating Conditions were also amended to reduce the quantum of the financial assurance bond that the Company must have in place during transport operations, from A$5 million to A$2 million, to be in line with the with the worst-case clean-up scenario developed by independent transportation experts. The Company considered the receipt of these amendments to its Operating Conditions as important preconditions to any decision to restart the Mine. With these amendments approved, the Company can now move forward with its Mine restart financing discussions.