It follows a competitive process with prospective banks and lenders assisted by Noah’s Rule.
Talisman said the selection of Taurus as preferred debt provider was due to the highly competitive cost of debt, no hedging and flexible repayments.
The amount covers Talisman’s 30% entire share of pre-production costs, meaning it won’t have to tap equity markets.
Project partner Sandfire Resources will cover the balance of the $72.5 million in pre-production capital costs.
Monty is set to produce 74,400 tonnes of copper, 38,400 ounces of gold and 413,300oz of silver over 30 months at all-in sustaining costs of $1.90 per pound of copper.
Talisman expects the project to yield more than $64 million in ungeared pre-tax free cashflow, inclusive of capital expenditure.
Talisman has already committed $600,000 to the joint venture to fund its share of initial development activities.
The company had $13.8 million in cash at the end of March.
Approvals for Monty are expected by mid-year with first production slated for late next year through Sandfire’s DeGrussa plant, 10km away.
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