Treasury Metals secures second $3m tranche of RMB loan
JOHANNESBURG (miningweekly.com) – Having satisfied all conditions precedent, Toronto-listed Treasury Metals has ensured RMB Resources’ continued funding of the company's Goliath gold project, in Northwestern Ontario.
The conditions related to the second tranche, which provided the company the ability to access an additional $3-million in funds for further mine permitting and feasibility studies, included an updated mine plan, engineering and a newly modelled resource work.
For consideration of the second tranche, RMB had been issued 1.5-million financier warrants, which entitled it to buy one common share of the company at an exercise price of $0.35 for 3.5 years.
Additional terms related to the C$6-million feasibility funding facility entered into between Treasury Metals and RMB were previously announced.
“We are pleased to have the continued support and partnership of RMB. In addition, an exploration programme is under way at the project that will allow us to finalise definition drilling of the main resource area identified in the new model review and further testing of the recent discoveries made,” noted president and CEO Martin Walter.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation