Business
Telson Signs Term Sheet for Loan Facility and Offtake Agreement with Trafigura for up to US$15 Million To Finalize Mine Construction at Tahuehueto
(via TheNewswire) Vancouver, British Columbia / TheNewswire / Monday October 30, 2017. ...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Signs Term Sheet for Loan Facility and Offtake Agreement with Trafigura for up to US$15 Million To Finalize Mine Construction at Tahuehueto(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / Monday October 30, 2017.\n\n\n \nHighlights:\n\n\n \n-Executed terms sheet for loan facility with Trafigura for up to US$15 million for mine construction.\n\n\n \n-Funding enables construction of mineral processing facility, related mining facilities, plus infrastructure and underground development at Tahuehueto\n\n\n \n-Funds Available to the Company in Three Tranches According to Development Progress and certain conditions with first tranche within 30 days of signing formal agreements.\n\n\n \n-The Offtake Terms are for 100% production of zinc and lead concentrates with a minimum fixed tonnage, starting delivery in January 2018 and ongoing until December 2022\n\n\n \nTelson Resources Inc. (\"Telson\" or the \"Company\") (TSX Venture - TSN.V) is very pleased to announce it has signed a term sheet of a Loan Facility and Offtake Agreement with Trafigura Mexico S.A. de C.V. (\"Trafigura\"), a market leader in the global commodities industry, to sell 100% of the lead and zinc concentrate produced at the Tahuehueto Mine from January 1st 2018 to December 31st 2022. Trafigura will provide Telson with a credit facility of US$15 million upon signing formal agreements, thereby securing the bulk of the capital requirements to construct and operate an ongoing 1,000 tonne per day mining operation at Tahuehueto. \n\n\n \nAlthough Telson cannot guarantee the completion and signature of final contracts, negotiations have reached fully mutual agreement terms and the parties have signed a term sheet providing comfort to both parties to conclude and execute final contracts which are being currently drafted and are expected to be signed during the next couple of weeks. \n\n \n \nAbout Trafigura\n\n\n \nFounded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.6% owned global oil products storage and distribution company Puma Energy; global terminals, w...