Silver streaming deal closed w/ Sprott for US$37.5M Trigon Metals ($TM.v $PNTZF) has signed a definitive agreement with Sprott Private Resource Streaming & Royalty Corp and Sprott Mining Inc for a US$37.5M silver and copper stream for its Kombat Mine in Namibia!
TM will sell and deliver 100% of the silver produced from the Kombat Mine to Sprott and
an initial tranche of US$15.8M has already been advanced.
The proceeds will primarily be used to expand the plant capacity to 60,000 tonnes per month, with the expansion being aimed at increasing annual copper production and reducing forecasted operating costs.
"This deal not only is expected to fund our working capital needs beyond our planned restart of the open pit in 2023, through to early 2024 when cash flows are bolstered by underground production, but it also enables us to accelerate the feasibility study and development works at the Kombat Mine. We will now be initiating expansion plans at Kombat that we believe will result in a top quartile performing copper mine," commented TM President and CEO Jed Richardson
https://ca.finance.yahoo.com/news/trigon-closes-silver-streaming-deal-195900718.html