Aurcana Silver Corp V.AUN.H

Other RK Mine Finance transactions

[johnnywits]

While waiting for Aurcana's loan terms - here are a couple other deals RK has been involved in.

List of transactions: https://www.rkminefinance.com/transactions.aspx

March 28, 2013 - Nevada Copper Corp. ("Nevada Copper" or the "Company") is pleased to announce the closing of a US$200 million senior secured loan facility (the "Loan Facility") and copper concentrate off-take (the "Concentrate Off-Take") agreement with RK Mine Finance ("Red Kite"). Proceeds from the Loan Facility will be used for construction of Nevada Copper's underground mining operation at its 100% owned Pumpkin Hollow copper project located near Yerington, Nevada. 

A summary of the Loan Facility and Concentrate Off-Take terms are as follows:

• US$36 million has been paid to Nevada Copper. This cash amount, combined with the Company's current treasury, provides approximately US$65 million (excluding marketable securities currently valued at approximately US$17 million) to continue current shaft sinking activities, commence detailed engineering and secure long lead time equipment;
• US$15 million will be advanced on receipt of the key State permits allowing for the commencement of full construction of an underground mining operation. These permits are expected in Q2-2013 (See February 15, 2013 News Release);
• US$10 million will be advanced on passage of the Lyon County Bill and land conveyance to the City of Yerington (See February 15, 2013 News Release). This bill has been introduced on a bi-partisan basis in both the Senate and U.S. House of Representatives. Passage of the bill does not affect the development timeline of the underground mining operation;
• US$139 million (US$149 million should passage of the land bill be delayed) will be advanced on the completion of certain other project milestones, including completion of the 24 foot diameter, 2,200 foot production sized shaft;
• The Loan Facility has a six year term maturing on January 3, 2019, with interest payable at an annual rate of LIBOR plus 6%. The loan and interest are repayable in equal quarterly installments commencing April 2015, and mandatory prepayments equal to 20% of excess cash, as defined in the Loan Facility are required. The Company has the ability in certain circumstances to repay the loan in full without penalty prior to maturity. The loan is secured against all current and future assets of the Company and its subsidiaries. As part of the loan agreement, the Company has paid an origination fee of 3% of the principal amount of the loan; and,
• Under the terms of the Concentrate Off-Take agreement, the Company will sell to Red Kite, for the life of the mine on the Eastern deposits (East & E2 underground mineable deposits and JK34 zone), such percentage of copper concentrates produced from the Eastern deposits on the Pumpkin Hollow project as is equal to the amount advanced by Red Kite to the Company under the loan agreement as a percentage of the US$200 million maximum principal amount of the loan. 
  
  The Concentrate Off-Take agreement does not include any rights to future copper concentrate production from the open-pittable North and South deposits and provides for benchmark-referenced treatment and refining charges, and standard payment factors for contained copper, gold and silver.

https://www.nevadacopper.com/s/NewsReleases.asp?ReportID=578322&_Type=News-Releases&_Title=Nevada-Copper-Closes-US200-Million-Loan-Facility-And-Concentrate-Off-Take-A...

Vancouver, Canada – September 27, 2012: Golden Predator Corp. (TSX:GPD) (the “Company”) is pleased to announce that it has executed definitive agreements with MF Investment Holding Company 1 (Cayman) Limited (“MF Investment”), part of the Red Kite group, for a senior secured loan facility in the principle amount of USD $35,000,000 (the “Loan”). The Loan proceeds will be utilized to develop the Brewery Creek project and complete the Brewery Creek acquisition.

“We are pleased that Red Kite has appreciated the opportunities presented by our Brewery Creek project. This financing consolidates our interest in the project and ensures Brewery Creek moves forward as planned,” said William M. Sheriff, Chairman and CEO. We look forward to Brewery Creek advancing towards becoming the Yukon’s next gold producer in 2014.”

USD $35,000,000 Loan Facility

The Loan will be provided through three advances, the first advance of USD $10,000,000 having been provided on September 25, 2012 and two subsequent advances of USD $10,000,000 and USD $15,000,000, respectively, being made on completion of certain specified conditions including delivery of an acceptable pre-feasibility study and receipt of any required permit amendments for the Brewery Creek Project.

The first $10,000,000 of the Loan matures on July 1, 2015, the next $15,000,000 on March 31, 2016 and the final $10,000,000 matures on December 31, 2016. The Loan bears interest payable at LIBOR plus 8% per annum, subject to a minimum interest rate of 10%. As a condition to the second advance of the Loan, the Company has agreed to enter into an offtake agreement under which it will sell to MF Investment the first 500,000 ounces of gold produced from the Brewery Creek Project at a discount of 1.5% to the spot price.

Of the initial advance, CAD $3,205,000 was used to complete the acquisition by Golden Predator of the Brewery Creek Project from Alexco Resource Corp. (“Alexco”) as more particularly described below, with the balance of the net proceeds of the Loan will be used exclusively to fund the working capital requirements of the Company related to or arising in connection with the exploration and development of the Brewery Creek Project. 

https://www.aubullion.com/documents/GPDNR12-27-2012-09-27.pdf.pdf