Coalspur Releases Highlights from Q1 in Quarterly Report

- April 30th, 2013

Coalspur Mines Limited (ASX:CPL,TSX:CPT) released its quarterly report for Q1 2013.

Coalspur Mines Limited (ASX:CPL,TSX:CPT) released its quarterly report for Q1 2013, including a summary of progress with the Vista Coal Project.

As quoted in the press release:

On 19 April 2013 Coalspur announced it concluded an arrangement to fund the majority of Stage 1 of its Vista Coal Project. Highlights include: EIG Global Energy Partners to provide a senior secured debt facility of up to US$350 million . The Facility is expected to fund the majority of development capital for Stage 1 of Vista, which is estimated to beC$445 million. EIG increased the amount of the Facility to up to US$350 million, an increase of US$50 million from the previous announcement on 20 December 2012. The arrangement enables Coalspur to retain all off-take and marketing rights which allows it to preserve strategic flexibility and extract greater value for Coalspur shareholders in the future. Coalspur will also retain 100% ownership of Vista as part of this transaction.

To view the whole press release, click here. 

Get the latest Coal Investing stock information

Get the latest information about companies associated with Coal Investing Delivered directly to your inbox.

Coal Investing

Tags

Leave a Reply