AIC Mines (ASX:A1M) executed a $40 million prepayment facility linked to an offtake agreement for the Jericho Mine with Trafigura Asia Trading to fund the expansion of its Eloise processing facility, according to a Friday Australian bourse filing.
The prepayment is provided by Trafigura to secure the delivery of copper concentrate with no commodity hedging requirements and has early repayment flexibility.
The offtake agreement requires delivery of at least 400,000 dry metric tonnes of concentrate from the Jericho Mine.
The facility carries an interest rate of the three-month US dollar secured overnight financing rate plus 3% per annum. The availability period extends up to 18 months from the date all conditions are satisfied.
Under the grace period of the facility, no repayment of any capital or interest is required for up to 18 months from the date on which all conditions are satisfied, the filing said.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。