SOURCE: Atalaya Mining PLC
September 05, 2016 02:00 ET
NICOSIA, CYPRUS--(Marketwired - Sep 5, 2016) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)
Atalaya Mining plc ("Atalaya" or the "Company")
(AIM: ATYM, TSX: AYM)
US$14 million Prepayment Funding with Transamine Trading S.A.
The Company is pleased to announce the conclusion of a significant proportion of its funding requirements in relation to the mine expansion (the "Expansion Project"), through entering into a US$14 million copper concentrate prepayment agreement (the "Facility") with Transamine Trading S.A. ("Transamine").
Transamine, an independent and privately owned commodity trading company headquartered in Geneva, has been assigned part of the offtake agreements from existing offtakers.
EMED Marketing's obligations to Transamine under the Facility are secured by ore and concentrates in stock and to be produced by the Company, in addition to new equipment purchased by the Company for the Expansion Project.
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