Focus Minerals (ASX:FML) has announced a US$35 million loan facility from major shareholder, Shandong Gold, to fully fund the Coolgardie Gold Project operations.
This loan, in addition to the existing A$20 million and US$10 million loans from Shandong Gold, will allow for the Three Mile Hill Plant refurbishment and the resumption of mining and processing activities.
The loan is for 3 years with 3% interest payable quarterly.
Focus Minerals is working to restart production at Laverton while also advancing key resource growth targets.
The LOM plan for the Coolgardie Gold Project optimises the 2020 PFS with an NPV of $132 million.