Cyprium Mining (CUG.V) has signed an agreement with SC Strategy Consult whereby the latter will provide $4.5M in debt financing to Cyprium. The bonds will have an initial 3 year term and will bear an interest rate of 12.5%, payable in quarterly installments and Cyprium will also pay a royalty of $3 per tonne it mills at the Las Cristinas processing plant.
The $4.5M will allow Cyprium to advance its plans to operate a toll mill in Mexico’s Chihuahua state where hundreds of small-scale mining companies are looking for sustainable solutions to process their ore. As the same people that backed Inca One Gold (IO.V) are now backing Cyprium Mining, it could be worth it to keep an eye on Cyprium’s developments.
> Click here to go to Cyprium’s website
Disclosure: The author holds no position in Cyprium. Please see our disclaimer for current positions.
