Northern Vertex obtains Macquarie Bank Credit Approval for Moss Mine Debt Financing

Northern Vertex Mining Corp (TSXV:NEE) announced that the Company has obtained credit approval from Macquarie Bank Limited to provide a project finance facility of up to US$20 million to be used to fund projected development costs of the Company’s 100% owned Moss Gold-Silver Project in north-west Arizona.
As quoted in the press release:

The Macquarie Facility contemplates a separate and complementary equipment finance facility (the “Equipment Facility”) of up to US$6.5 million, to be negotiated with arms-length third parties in parallel with the Macquarie Facility. The Macquarie Facility and the Equipment Facility would together provide up to US$26.5 million towards the estimated pre-production capital and financing costs of the US$33.0 million required to construct the planned 5,000 tonnes per day, open pit, heap leach, gold-silver mine at the Company’s Moss Mine site.

Northern Vertex President and CEO, Dick Whittington, stated:

Macquarie credit approval is yet another key milestone in getting our Moss Gold-Silver Project financed and built. Credit approval of the Macquarie Facility provides a strong vote of confidence in the Moss Mine Project for our shareholders and our host communities in Arizona. This is a major step forward for the Company as we seek to advance the Moss Mine Project to production.

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