Canada-based gold mining company Atna Resources has extended its credit facility of CAD17.5m ($17.1) with Sprott Resource Lending Partnership.
As per the revised terms, Atna is liable to make monthly payments of $1.46m for twelve months starting 30 September 2013 until 29 August 2014.
Following a reduction in the loan amount to CAD11.5m ($11m), Atna will be eligible to procure additional indebtedness of $35m at the similar interest rate of 9% per annum.
The company said that the additional facility will be used to fund the construction of Reward gold mine project southwestern Nye County, Nevada.
Commenting on the developments Atna Resources president and CEO James Hesketh remarked that the amendment of the facility is a part of its efforts to boost the operations at its Pinson Mine.
"We are appreciative of Sprott’s continued support for Atna’s growth and development plans," added Hesketh.
Additionally, the company has also issued 675,240 common shares of Atna to Sprott as a consideration for the facility extension.