KEY TERMS AGREED ON US$58M DEBT FACILITY FOR ANTAS NORTH COPPER MINE The Company is very pleased to announce that it has obtained from and agreed with Banco Votorantim S.A. (Banco Votorantim) a proposal with a debt facility in the principal amount of up to US$58M for the development of the Antas North Copper Mine (Stage1), subject to the terms proposed therein. This facility represents up to 80% of the capital requirements for Stage I and puts Avanco’s first copper mine within reach of being fully funded into production. HIGHLIGHTS Ø Up to US$58m debt facility Ø Up to eight year term Ø Up to two year grace period on principle repayments Ø Commercial interest rates Ø Commercial terms/ fees standard for this type of facility Ø Strategy agreed to fast track bankability
AVB Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held