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.