Trigon Metals Inc. has announced that it will immediately draw down the first tranche of the credit facility of US$2.5 million after satisfying all of the conditions of a credit agreement with IXM SA for a US$5 million project finance facility for the restart of the Kombat mine.
The miner anticipates the second tranche consisting of the remaining US$2.5 million to be drawn down in December 2021, “subject to conditions precedent for that tranche, including a requirement of further funding support from Trigon, as required.”
IXM has signed an agreement with Trigon Namibia to acquire 100% of the production from the Kombat open pit mine, which is scheduled to produce its first concentrate in early 2022.
IXM, owned by the listed CMOC group, is a global merchandiser of base and other non-ferrous metals, already active in Namibia.
Kombat Mine officially resumed production last month after 14 years of closure.
