09
Aug
12:43
Ontario teachers' group to invest in Foran Mining's McIlvenna Bay project
Foran Mining says it has signed a non-binding term sheet with the Ontario Teachers’ Pension Plan Board that may invest up to CAD 200 million ($155.6m) in the company’s McIlvenna Bay copper-zinc project in east-central Saskatchewan, Kallanish reports.
Proceeds from the proposed investment will, together with proceeds from an anticipated senior secured credit facility, be used to develop the McIlvenna Bay project to commercial production. The parties are…
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