ENP Newswire -
Release date- 30062014 -
Following extensive technical due diligence and in accordance with a debt financing mandate, the Company has received a Committed Letter of Offer from
As a result, the Company continues to advance discussions with various parties to obtain the balance of the funding required. Sources of additional financing may include, but are not limited to, the sale of a production royalty, the sale of a royalty stream, subordinated debt instruments, the sale of an interest in the project or equity financing.
Until such time as there is more certainty with respect to the sources of the remaining funding required, the Company does not feel it is in a position to execute the Committed Letter of Offer. Accordingly, the Company is now targeting the completion of financing negotiations by the end of the third quarter of 2014 and has extended its debt financing mandate with
With respect to the existing
In addition to the existing terms, which will remain unchanged, there will be an upfront fee of
With the Construction Permit now granted, only project financing remains outstanding prior to the commencement of construction. Following the completion of financing discussions, the Company will provide an update on the development timeline for Ollachea.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Cautionary Statement on Forward-Looking Information
Certain information in this news release, including information about the Company's financial or operating performance and other statements expressing management's expectations or estimates of future events, performance and exploration and development programs or plans constitute 'forward-looking statements'.
Forward-looking statements often, but not always, are identified by words such as 'seek', 'believe', 'expect', 'do not expect', 'will', 'will not', 'intend', 'estimate', 'anticipate', 'plan', 'schedule' and similar expressions of a conditional or future oriented nature identify forward-looking statements.
Forward-looking statements are, necessarily, based upon a number of estimates and assumptions. While considered, by management, to be reasonable in the context in which they are made forward-looking statements are inherently subject to political, legal, regulatory, business and economic risks and competitive uncertainties and contingencies.
The Company cautions readers that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause
Forward-looking statements are made as of the date of this news release and
Risks, uncertainties and contingencies and other factors that might cause actual performance to differ from forward-looking statements include, but are not limited to, changes in the price of precious metals and commodities, changes in the relative exchange rates of the US dollar against the Peruvian nuevo sol and the Argentinean peso, interest rates, legislative, political, social or economic developments both within the countries in which the Company operates and in general, contests over title to property, the speculative nature of mineral exploration and development, operating or technical difficulties in connection with the Company's development or exploration programs, increasing costs as a result of inflation or scarcity of human resources and input materials or equipment.
Known and unknown risks inherent in the mining business include potential uncertainties related to the title of mineral claims, the accuracy of mineral reserve and resource estimates, metallurgical recoveries, capital and operating costs and the future demand for minerals. For additional information, please consult the Company's most recently filed MD&A and Annual Information Form.
Tel: +1 (647) 692 5460
Tel: 44 (0)20 7523 8000
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Tel: +44 (0)20 7466 5000
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