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SilverCrest draws next $30 million on $120 million project facility
Chicago, Dec. 30 – SilverCrest Metals Inc. reported that its Canadian subsidiary drew the next $30 million on its previously reported $120 million secured project financing facility with an affiliate of RK Mine Finance, according to a press release.
The third drawdown brings the outstanding amount of borrowings to $90 million.
Proceeds will fund the construction of the Las Chispas Project.
Project construction remains on time. The last $30 million is available until Aug. 31, 2022.
As of Dec. 30, the company had cash equivalents of $178 million and $30 million remaining under the credit facility.
The metals explorer is based in Vancouver, B.C.
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