March 25, 2015"Prepay Agreement"
NICO and Arctos were assigned as collateral for a 40 million dollar loan.
That includes the 400 - 500 million of invested capital in both projects.
This "assignment" occured 3 months before loan default.
FM had been operating the mine for a year up till March 2015, and had produced no silver nor commissioned the mill.
Subsequently to the FM default, OSMI (2015 - 2018) invested 20 million and Aurcana another 40 million.