Atico Mining Secures $111.4 Million Financing for La Plata Project Development

Key Facts

Atico Mining Corporation announced it has secured a $95 million project finance facility and a $16.4 million private placement of convertible debentures. GlobeNewswire reported that the total financing of $111.4 million is dedicated to funding the development of the La Plata precious metals-rich VMS project.

The company intends to use the proceeds to cover construction and development costs at La Plata, as well as to repay outstanding debts including approximately $3.5 million to Trafigura and $6.98 million in unsecured debentures held by Dundee Corporation. The financing package, which includes provisions for debt settlement via share issuance, aims to move the asset toward production and support general corporate purposes.