The CompanyĪnticipates the remaining project capital cost will be funded largely throughĪdvances pursuant to its previously announced precious metals by-products Sources which may include equipment-related financing, concentrate off-takeįinancing, export credit agencies, and senior project debt. Portion of the estimated US$900 million capital cost being raised from multiple In great demand from smelters around the world.Īugustas project financing strategy anticipates a substantial This agreement reflect the outstanding quality of Rosemont concentrates that are The Rosemont copper project with minimal dilution to shareholders. Market pricing and competitive payables for metals including benchmarkedĪugusta President and CEO Gil Clausen said: ∼losing of thisĪgreement takes us one step closer to delivering on our objective of financing Metric tonnes have been delivered to Red Kite. In 2012 when Rosemont reaches commercial production and ending when 483,750 dry Kite with 16.125% of Rosemonts copper concentrate production per year, starting Under the terms of the off-take agreement, Augusta will supply Red Proceeds from the loan will be used for the redemption of theĮxisting debt on the balance sheet of Augustas 100%-owned subsidiary Rosemont Each warrant is exercisableįor one common share of Augusta at C$3.90 per common share for a period of three Time prior to maturity, and Augusta has a one-time option to extend the maturityĭate by one year for a fee of 2%, to be declared no later than October 22, 2011.Īs part of the loan agreement Augusta has paid an originationįee of 2% and issued 1,791,700 warrants to Red Kite. The loan can be repaid without penalty at any Loan, with interest payable at LIBOR plus 4.5%, maturing on the earlier of: (i)Īpor (ii) the date of closing of the senior debt financing facilityįor the Rosemont copper project. Under the loan agreement Red Kite will provide a US$43 million Off-take agreement with Red Kite Explorer Trust (Red Kite). Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Vancouver, British Columbia-(April 23, 2010) - Augusta ResourceĬorporation (TSX/NYSE Amex: AZC) (∺ugusta or the Company) is pleased toĪnnounce the closing of the senior secured loan agreement and copper concentrate Company Overview Our Team Our Commitment Success Stories Upcoming Events CareersĪugusta Closes $43 Million Loan Facility and Copper Off-take Agreement with Red Kite.This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. Cookieįacebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.Ī cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. These cookies track visitors across websites and collect information to provide customized ads. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns.
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