RiverFort is pleased to announced a refinancing with Phoenix Copper Limited, replacing its existing US$2 million short-term loan facility with a substantial new long-term facility for up to US$10 million. This underscores Phoenix's commitment to strengthening its financial position and supporting its growth initiatives, including progressing towards closing of a larger bond financing enabling them to move their Utah copper asset into construction.
Richard Wilkins, Chief Financial Officer of the Company, commented: "I would like to thank Riverfort Global for their ongoing support of the Company, and particularly the flexibility they have allowed us over the last 12 months. We now look forward to closing our corporate copper bond issue as soon as possible."
About: Phoenix Copper Limited is a USA focused, base and precious metals emerging producer and exploration company, initially targeting copper, gold, silver and zinc production from an open pit mine. Phoenix's primary operations are focused near Mackay, Idaho in the Alder Creek mining district, at the 80% owned Empire Mine property, which historically produced copper at grades of up to 8%, as well as gold, silver, zinc and tungsten, from an underground mine.
