https://www.miningweekly.com

Treasury Metals secures second $3m tranche of RMB loan

24th November 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.162s - 107pq - 2rq
Subscribe Now