$TM.v Secures New Financing For Kombat Mine We can expect operations at Trigon Metals (TSXV: TM) Kombat mine to accelerate with the announcement that the company has entered into funding arrangements with The Lind Partners and Sprott Mining.
The Lind funding will replace the US$5 million working capital facility from metals trader and off-taker IXM. Only US$2.75M of the IXM facility, was drawn down, the remainder withheld, leading to capital constraints at a critical time in the life of the mine.
The flexibility of the Lind funding and the Sprott Loan is expected to give the Kombat operation all of the liquidity necessary to achieve commercial production. Sprott will be providing the company with an additional US$2.5 million to be used for operating expenses.
$TM.v is currently trading at $.29 and is valued at $49.2M.
https://ceo.ca/@businesswire/trigon-metals-enters-into-institutional-funding-arrangements