Nevada Copper

09:45 AM EST - Nevada Copper : Has agreed to non-binding terms with its senior lender, KfW IPEX-Bank and its largest shareholder, Pala Investments Limited, for a loan of up to $70 million U.S., by way of a new tranche extension to the existing senior credit facility with KfW. This funding would be provided by Pala, with the potential participation of other lenders. Of the total amount, $50 million U.S. will be committed to be advanced by the lenders (including the outstanding amount of the previously announced up to $20 million U.S. promissory note provided by Pala) and $20 million U.S. may be available for future draw by the Company on an uncommitted basis. The Company is in ongoing discussions with KfW, Pala and other lenders with the aim of executing binding agreements during the month of July. Nevada Copper shares T.NCU are trading down $0.05 at $21.05.

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