The debt financing has been renewed for one more year until 10 February 2012, and Barclays Capital and WestLB will act as the Joint Lead Arrangers for a senior debt financing of up to $68m.
The debt financing for the Invicta Project will be required by the company once the community agreements have been finalized, the upgraded Feasibility Study has been completed and the construction permit has been received.
Negotiations with the local communities are progressing, the feasibility study will be completed in the second quarter of this year, and preparations for the permitting process and construction are going on, the company said.
