- Salazar Resources Limited (SRL) announced that Adventus Mining Corporation has finalized an Offtake Financing Agreement (OFA) with Trafigura Pte Ltd
- This secures up to US$55 million towards the advancement of the El Domo-Curipamba copper-gold project
- With the completion of the OFA, the joint venture has secured up to $235.5 million for the advancement and future construction of the El Domo Project
- Salazar Resources Ltd is a Canada-based junior mineral exploration company engaged in the acquisition and exploration of mineral properties located in Latin America
- Salazar Resources Limited was unchanged at C$0.13 at 1:51 PM ET
Salazar Resources Limited (SRL) announced that Adventus Mining Corporation has finalized an Offtake Financing Agreement (OFA) with Trafigura Pte Ltd.
This agreement secures up to US$55 million towards the advancement of the El Domo-Curipamba copper-gold project.
This follows the binding commitment, together with the financial commitment by Wheaton Precious Metals Corp.
With the completion of the OFA, the joint venture has secured up to $235.5 million for the advancement and future construction of the El Domo Project.
The terms of the OFA stipulate that Trafigura will provide Adventus Mining with a senior debt facility of $45 million. Out of that amount, $5 million can be paid on an early deposit basis to be used for pre-construction activities at the El Domo Project.
The balance of the cash consideration will be paid in two instalments during future construction of the El Domo Project, subject to certain customary conditions precedent being satisfied.
Salazar Resources Ltd is a Canada-based junior mineral exploration company engaged in the acquisition and exploration of mineral properties located in Latin America.
Salazar Resources Limited was unchanged at C$0.13 at 1:51 PM ET.
