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TASEKO MINES PROVIDES FINANCING UPDATE FOR FLORENCE COPPER
TASEKO MINES PROVIDES FINANCING UPDATE FOR FLORENCE COPPER Canada NewsWire ...
About this update from Taseko Mines Limited
[{"type":"text","content":"\n \n \n \n TASEKO MINES PROVIDES FINANCING UPDATE FOR FLORENCE COPPER\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 13, 2023\n \n \n /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (\"Taseko\" or the \"Company\") is pleased to provide an update on a number of recent financing initiatives.\n \n \n On\n \n June 30\n \n , Taseko's corporate revolving credit facility was increased from\n \n US$50 million\n \n to\n \n US$80 million\n \n .  The accordion feature, which was added and announced in January, was fully underwritten and credit approved by ING Capital LLC who joins alongside the existing lender, National Bank.  The corporate facility is available for general corporate purposes, including to support the capital needs of the Florence Copper project.  The credit facility matures in\n \n July 2026\n \n and is secured by first liens against Taseko's rights under the\n \n Gibraltar\n \n joint venture as well as the shares of Gibraltar Mines Ltd., Curis Holdings (\n \n Canada\n \n ) Ltd., and Florence Holdings Inc. and contains customary covenants for a facility of this nature.\n \n \n Also in late June, the Company closed an additional silver stream sale to Osisko Gold Royalties (\"Osisko\") for\n \n US$10.25 million\n \n for its incremental 12.5% share of Gibraltar Mine that Taseko purchased in March of this year from Sojitz Corporation. Taseko also extended the silver delivery threshold to coincide with the Company's recently updated mineral reserve estimate.\n \n \n \n Stuart McDonald\n \n , President & CEO of Taseko, stated, \"The permitting process at Florence Copper is nearing an end and as we prepare for construction our focus is to ensure we have a strong balance sheet and a solid financing plan in place. We continue to evaluate construction financing proposals which will complement our current liquidity and the two transactions previously announced with Mitsui (\n \n US$50 million\n \n ) and Bank o...