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Minera IRL announces up to US$240 million financing for Ollachea project

Fasken
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Overview

Client

Minera IRL

On June 8, 2015, Minera IRL announced that it has arranged a US$70 million secured finance facility ("Bridge Loan"). The Bridge Loan is expected to be the first step towards a senior project credit finance facility of up to US$240 million, described in a Mandate Letter. The objective of this financing is to bring the Ollachea Gold Project, Peru, into production in the second half of 2017 and includes an engineering, procurement and construction management agreement for the Ollachea Mine. Minera IRL is a publically traded Latin American precious metals mining, mine development and mineral exploration company, focused primarily on gold. The shares of the Company are listed on the London Stock Exchange’s AIM, the Lima Stock Exchange in Peru, the Bolsa de Valores Lima and the Toronto Stock Exchange. Minera is being advised by Fasken Martineau with a team led by Chuck Higgins, Thomas Wexler, ‎Angela Wing, Martin Fisher-Haydis and Justine Connors.

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