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Aurelia Metals has secured a funding solution of around A$100M in new senior secured financing facilities and a A$40M fully underwritten equity raising for the Federation Base Metals Project.
The new capital structure allows for the restart of development of Federation, with remobilization of the mining contractor commencing in the June Quarter 2023.
The funding solution consists of a US$24M Loan Note Advance Facility, an A$65M Environmental Bond Facility, and a concentrate offtake agreement with Trafigura, which will also be granted 120M warrants over Aurelia shares.
Aurelia Metals Limited is pleased to share promising results from four Induced Polarisation (IP) surveys in the Nymagee District.
All four prospects tested – Lancelot, Vaucluse, Piney and Lyell-Burge Trig – contain high chargeability levels, including 90 millivolts per volt (mV/V) at Lancelot, where levels of 10-15 mV/V typically warrant drill testing.
The results at Lancelot are especially intriguing and have significantly upgraded its mineralprospectivity and advanced the prospect through Aurelia’s exploration pipeline.