Orvana Minerals Extends Loan Maturity Date by Six Months
Orvana Minerals Corp. has amended its secured prepayment facility with Trafigura Pte. Ltd., extending the maturity date by six months to June 2027. The amendment aims to align repayment schedules with the production ramp-up at its Don Mario Oxides Stockpile Project.
Orvana Minerals Corp. announced Tuesday that its Bolivian subsidiary, Empresa Minera Paitití, S.A. (EMIPA), has entered into an amendment to its US$25 million secured prepayment facility with Trafigura Pte. Ltd. The amendment extends the final maturity date of the facility by six months.
The loan, originally set to mature in December 2026, will now be due in June 2027. This extension is intended to better match the repayment schedule with the anticipated production ramp-up from the Don Mario Oxides Stockpile Project.
Orvana Minerals is a multi-mine gold-copper-silver company. Its operations include the El Valle and Carlés mines in northern Spain, the Don Mario property in Bolivia, which is increasing production of copper cathodes and gold-silver doré from its oxide stockpiles, and the Taguas property in Argentina.
The adjustment to the prepayment facility's maturity aims to provide Orvana with the necessary time to achieve its production targets at the Don Mario project, ensuring that the projected cash flows from increased output can support the debt obligations under the revised terms.