Foran Mining Secures $250M for McIlvenna Bay Project

Foran Mining (TSE:FOM) has released an update.

Foran Mining Corporation has secured a substantial US$250 million credit facility to fund the construction of its McIlvenna Bay project in Saskatchewan and for general corporate purposes. The credit agreement, facilitated by Sprott Resource Lending Corp., amends the company’s previous US$150 million facility and features favorable terms, including no hedging or production-linked payments requirements, and a set maturity date of September 30, 2031.

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