Avanti Secures Financing to Develop Kitsault Moly Mine

Winnipeg Free Press reported that Avanti Mining (TSXV:AVT) secured a $640 million loan to advance the British Columbia-based Kitsault mine.

As quoted in the market news:

Avanti has focused on restarting the mothballed molybdenum mine, and is awaiting environmental approvals from both the B.C. and Canadian environmental assessment offices. The company said the agreement will give it $560 million of senior debt over a 12-year term, and another $80 million in a cost over-run facility over an eight-year term.

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