Petaquilla lines up US$140-million variable-rate loan to finance Spanish mine - InfoNews

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Petaquilla lines up US$140-million variable-rate loan to finance Spanish mine

December 31, 2012 - 9:47 AM

VANCOUVER - Petaquilla Minerals Ltd. (TSX:PTQ) says it has lined up US$140 million of financing with Red Kite Mine Finance Trust I. The first $90 million will become available to the Canadian mining company when the agreement closes, expected about Jan. 15, and the remaining US$50 million will be released when certain milestones are passed at Petaquilla's projects The funds will be used to get the Lomero-Poyatos project in Spain into production in mid-2014.

News from © The Canadian Press, 2012
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