Telson Resources Inc. is now fully funded to finalize construction of the Tahuehueto gold mine in Mexico after executing on a US$15 million credit facility and entering an off-take agreement with Trafigura Mexico SA de CV
The company will sell 100% of the lead and zinc concentrate from the Tahuehueto mine to Trafigura from Jan. 1, 2018, to Dec. 31, 2022.
The funding will allow Telson to construct the mineral processing facility and related mining facilities and develop the infrastructure at Tahuehueto, the company said Dec. 18.
The loan facility has a three-year term and will mature in December 2020.
The company plans to complete mine and mill construction late 2018 and then start processing gold and silver in lead and zinc concentrates at the project site.