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Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,FWB:4TI) has signed a mandate with RMB Resources – resource financing division of the FirstRand Group of South Africa – to arrange up to USD$60,000,000 in corporate debt financing to repay current debt and to fund its stand-alone mining operations in the Bathurst Camp of New Brunswick.
Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,FWB:4TI) has signed a mandate with RMB Resources – resource financing division of the FirstRand Group of South Africa – to arrange up to USD$60,000,000 in corporate debt financing to repay current debt and to fund its stand-alone mining operations in the Bathurst Camp of New Brunswick.
The funding is comprised of the following:
- USD$30,000,000 Corporate Facility repayable over a 5-year term bearing interest of LIBOR + 5.5% per annum.
- USD$30,000,000 Pre-paid Gold and Silver facility based upon spot prices at time of closing.
Trevali President and CEO Dr. Mark Cruise said:
This planned facility provides Trevali with the financial resources to accelerate underground development at our Halfmile Mine in New Brunswick and also to reactivate planned operations at the Caribou Mill and Mine Complex over the upcoming several months (conditional of finalizing the acquisition of Maple Minerals). It is an exciting time for Trevali as we transition towards becoming a significant zinc producer both in New Brunswick and Peru at a time when some of the world’s largest zinc mines are approaching end of life – a factor that bodes well for the near term zinc market outlook.
Click here to read the Trevali Mining (TSX:TV,OTCQX:TREVF,FWB:4TI) press release
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