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Anaconda Mining secures C$1.5M in financing from Royal Bank of Canada

Anaconda MiningInc. has secured about C$1.5 million in financing from the Royal Bankof Canada, the company said July 13.

The bank will provide a C$1 million revolving credit facilityand a C$500,000 revolving equipment lease line of credit. As part of the terms andconditions, the bank has a security interest in the company's ball mill and conecrushers.

Last month, Anaconda offeredup to 28,571,429 flow-through units to raise C$2 million for exploration near thePine Cove mill in Newfoundland.