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Trevali Secures Credit Approval for $110 Million Senior Debt Facility for Rosh Pinah Expansion ("RP2.0")
Trevali Secures Credit Approval for $110 Million Senior Debt Facility for Rosh Pinah Expansion ("RP2.0").
About this update from Trevali Mining Corp.
[{"type":"text","content":"\n\n\n\nTrevali Secures Credit Approval for $110 Million Senior Debt Facility for Rosh Pinah Expansion (\"RP2.0\")\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\nTrevali Secures Credit Approval for $110 Million Senior Debt Facility for Rosh Pinah Expansion (\"RP2.0\")\nCanada NewsWire\nVANCOUVER, BC, Aug. 3, 2022\n\n\n\nVANCOUVER, BC, Aug. 3, 2022 /CNW/ - Trevali Mining Corporation (\"Trevali\" or the \"Company\") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) is pleased to announce that it has received credit approval from Standard Bank of Namibia Limited and The Standard Bank of South Africa Limited (together, \"Standard Bank\") for a Senior Secured Financing Facility of $110 million to fund the expansion of the Company's Rosh Pinah Mine (\"Rosh Pinah\" or the \"Mine\") in Namibia. All amounts in this release are in U.S. dollars unless otherwise indicated.\n\n \n \n \n \n \n \n\n \n\"Project financing for the Rosh Pinah expansion (\"RP2.0\") has been steadily progressing for the past several months, and we are pleased to report the confidence in the Rosh Pinah operation and expansion that is reflected by Standard Bank's credit approval and strong endorsement of the RP2.0 project,\" said Ricus Grimbeek, President and CEO of Trevali.\n\"The expansion at Rosh Pinah is the primary focus for Trevali in the coming years and we look forward to working with Standard Bank as a supportive lender that has intimate knowledge about the Rosh Pinah Mine, the expansion plan, and long-term operating success that has been achieved since mining began in 1969.\"\nCredit approval follows the execution of a mandate agreement with Standard Bank in March of this year and completion of legal and technical due diligence of the Rosh Pinah Mine and the RP2.0 project, including a site visit to the operation.\nClosing of the Senior Secured Financing Facility is subject to a number of conditions, including the negotiation and settlement of definitive loan facility and security documentation, the execution and delivery of definitive documentation in respect of the other elements of the com...