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Telson Resources Inc. Secures USD $2 Million Caterpillar Leasing Credit Line And Provides Corporate Update on Tahuehueto Development Activities.
(via TheNewswire) Vancouver, British Columbia / TheNewswire / March 6, 201 7 - Telson...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Resources Inc. Secures USD $2 Million Caterpillar Leasing Credit Line And Provides Corporate Update on Tahuehueto Development Activities.(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / March 6, 2017 - Telson Resources Inc. (\"Telson\" or the \"Company\") (TSX Venture - TSN.V) is pleased to announce that it has secured a USD $2 million credit line for leasing underground and surface mining equipment for mine development at its 100% owned Tahuehueto Project (the \"Project\") located in northern Durango State, Mexico. \n\n \n \nThis credit line has been secured with Caterpillar Credito SA De CV ER in the form of financial leasing that will require a down payment of 15% for new Cat surface equipment and 25% for new Cat underground equipment. The method of payment under the lease will consist of monthly payments of principal and interest with a term of 60 months for Cat surface equipment and 36 months for Cat underground equipment. These terms are valid up to November 30, 2017. Telson intends to use the leasing facility to acquire one 8 yd.? scoop tram, 40 tonne underground dump truck and 13.5 yd.? front end loader to support the mine development and future mining production. This equipment along with Telson's recently purchased used scoop tram will easily support the production estimated under the Company's recently released Pre-Feasibility's Study as well as allow for expansion possibilities under the first year production expansion plans to increase production towards 1000 tonnes per day during the first year of production. \n\n \n \nCorporate Update\n\n \n \nElectrical Power Plant LOI - Recently, Telson's Mexican wholly owned Subsidiary signed a Letter of Intent (the \"LOI\") with ANAF Soluciones Estrategices SA De CC (ANAF) that outlines the terms and conditions that ANAF will conduct an engineering design and cost study to build and operate a gas powered electrical generation plant to supply the full electrical power requirement of the future Tahuehueto mine and milling facility. The LOI stipulates that ANAF will carry out the full engineering and cost evaluation to select the best equipment options. Upon completion of the studies, and entering into a formal agreement with the Company, ANAF will build the onsite electrical power generation pant, install related powerline infrastructure and will opera...