Trigon Secures USD$8.9M Equipment Finance from Epiroc for Kombat Underground Restart
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The purchase will be done through the Company’s Namibian subsidiary, Trigon Mining (
The Facility term is 60 months from the shipment date of each item of equipment, and interest will accrue at
An arrangement fee of
The Facility will be secured by the mining equipment and a guarantee from Trigon.
The above terms are subject to the finalization of a supplier credit agreement between the parties and regulatory, board and other approvals as required.
Mining equipment is expected to be received on-site at Kombat between October 2023 and March 2024.
Jed Richardson, President and CEO, commented “We are pleased to be working with Epiroc and thank them and the team members that worked to put this financing package in place in a timely fashion. This allows us to build out our underground fleet while we are just starting to generate cash flow at the open pit”.
Operational Update
At site, the work at the production plant has been completed on schedule. Crushers and mills have been started. The coarse ore bins are being filled and first concentrate was produced on Friday, August 18th, 2023, the details of which will be shared in a subsequent release. Approximately 25,000t of ore is now stockpiled on the run of mine pad.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Kombat Mine, the reopening of the Kombat Mine, the Company’s ability to restart operations, the schedule of production at the Kombat Mine, the Company’s ability to conduct underground mining operations, the Facility and the Company’s ability to obtain the necessary approvals, the timing of receiving mining equipment and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230821595661/en/
For further information, contact:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
Source: Trigon Metals Inc.