Trigon finalises requirements to secure US$5 million for Kombat Mine restart
Trigon Metals this week announced on its website that it has satisfied all of the conditions precedents to funding pursuant to its credit agreement with Switzerland based metal commodity trading company, IXM SA for a US$5 million project finance facility for the restart of the Kombat mine.
The first tranche of the credit facility of US$2.5 million will be drawn down immediately, with the second tranche consisting of the remaining US$2.5 million anticipated to be drawn down in December 2021, subject to conditions precedent for that tranche, including a requirement of further funding support from Trigon, as required.
Trigon and IXM have now also signed the off-take agreement for the purchase of copper concentrate by IXM from the Kombat mine.
“We are pleased to close both the funding and offtake arrangements with IXM. We are now reaching the final stages of the restart activities at Kombat, with the plant planned to be commissioned in December, and the first concentrates expected in early 2022. All our focus is now on achieving these targets,” Jed Richardson, President and CEO of Trigon, said.