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Taseko Mines Announces New US$50 Million Revolving Credit Facility and Update on Florence Copper Permitting
Taseko Mines Announces New US$50 Million Revolving Credit Facility and Update on Florence...
About this update from Taseko Mines Limited
[{"type":"text","content":"\n \n \n \n Taseko Mines Announces New US$50 Million Revolving Credit Facility and Update on Florence Copper Permitting\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 5, 2021\n \n /PRNewswire/ - Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB) (LSE: TKO) (\"Taseko\" or the \"Company\") is pleased to announce that it has signed a\n \n US$50 million\n \n Revolving Credit Facility (the \"Facility\"). The Facility, which is arranged and fully underwritten by National Bank of\n \n Canada\n \n , will be available for working capital and general corporate purposes.\n \n \n \n Stuart McDonald\n \n , President and CEO of Taseko, commented, \"At current copper prices, we expect to fully fund construction of the Florence Copper Project with cashflow from\n \n Gibraltar\n \n operations and our existing cash balance. While we have no intention of drawing any funds from the new Facility on closing, it will further improve our already strong balance sheet and provide us with additional flexibility as we advance Florence towards production, making it America's newest source of low-carbon copper.\"\n \n \n Additionally, the U.S. Environmental Protection Agency (\"EPA\") has advised Taseko that it intends to send a draft Underground Injection Control (\"UIC\") permit to the Company in mid-October and provide the Company with a two-week review period before the draft permit is formally issued, commencing the public comment period.\n \n \n Mr. McDonald continued, \"The UIC permit is the final permitting step required prior to construction of\n \n Florence Copper\n \n , and the EPA continues to make progress towards finalizing the permit with no significant issues raised to-date. Receipt of the draft permit will represent another significant step towards\n \n Florence Copper\n \n being fully permitted and ready for construction.\"\n \n \n \n About the Revolving Credit Facility\n \n \n \n The Facility has an initial tenor of 42 months and is extendable annually thereafter.  The Facility will be secured by a first lie...