Business
Scottie Announces $6 Million Equity and USD$25 Million Construction Loan with Strategic Partner
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - Scottie Resources Corp. (TSXV: SCO...
About this update from Scottie Resources Corp.
[{"type":"text","content":"Scottie Announces $6 Million Equity and USD$25 Million Construction Loan with Strategic PartnerVancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) (\"Scottie\" or the \"Company\") is pleased to announce that Ocean Partners UK Limited (\"Ocean Partners\") has entered into a binding term sheet with Scottie to provide a commercial offtake agreement, equity, and make available a construction loan and overrun facility to advance the Scottie DSO Project (the \"Project\") towards production. This partnership presents Scottie with certainty and flexibility when advancing the Project and ensures that it remains on track for near-term production.STRATEGIC PARTNERSHIP COMPONENTSCommercial offtake agreement for 100% production for first 8 years of commercial productionEquity investment of $6 million translating into approximately $8.4 million in charitable flow through funding Construction Loan and Overrun Facility of USD$25 million, subject to formal documentation and funding / development milestones being met. Brad Rourke, CEO of Scottie stated: \"Ocean Partner's recognition and commitment to Scottie's DSO Project is strong validation of the robust economics inherent to the project, and Scottie's plan to develop the mine. The substantial equity stake and the construction loan & overrun facility aligns the two companies with the common goal of producing a high-margin DSO product in the shortest period of time.\"Brent Omland, CEO of Ocean Partners commented: \"The Scottie DSO Project is an extremely compelling opportunity; direct shipping ore is one of the core products Ocean Partners trades. Producing a DSO product presents an accelerated path to production with a less intensive capital programme whilst maintaining robust project economics. We are excited to be forming a deep partnership with the Scottie team and look forward to the project advancing to production.\"STRUCTURE OF THE PARTNERSHIPThe Scottie Gold DSO partnership provides significant synergies with the Ocean Partners metal trading operations. The planned high-quality crushed DSO product will be sold directly to Ocean Partners eliminating the need for a grinding operation at the Scottie mine site, reducing operating cost, capital cost and complexity. To fortify the partnership, the two companies...