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Northern Vertex secures up to US$26.5M loan for Moss gold-silver project

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Northern Vertex secures up to US$26.5M loan for Moss gold-silver project

Northern VertexMining Corp. has secured credit approval from Macquarie Bank Ltd. fora project finance facility of up to US$20 million for its Moss gold-silver project in north-west Arizona.

A separate and complementary equipment finance facility for anadditional US$6.5 million is also expected to be negotiated with arms-length thirdparties, according to the July 7 statement.

Proceeds from both facilities would help the company meet theUS$33.0 million required to construct the planned 5,000-tonnes-per-day, open pit,heap leach, gold-silver mine at the Moss mine site.

Drawdown of the Macquarie facility is subject to additional legaland technical due diligence, delivery of a formal commitment from Macquarie, obtainingall required permits, securing sufficient equity to fully fund the project, andcustomary corporate approvals of final documentation.