Alloycorp Mining secures $210 mln in RCF equity commitments
Alloycorp Mining Inc (TSX-V: AVT) has arranged for US$435 million in financing to develop its Avanti Kitsault Project, a molybdenum mine located north of Prince Rupert, British Columbia that is expected to reach production in 2017. Included in the financing package is a conditional equity commitment of US$140 million from U.S. private equity firm Resource Capital Funds (RCF), part of which will be used to repay an outstanding bridge loan facility. The company has also received a conditional equity commitment of about US$70 million from several RCF limited partners. Formerly known as Avanti Mining Inc, Alloycorp has its headquarters in Vancouver.
30 March 2015•8 mins read
