12 January, 2023
Bosnia and Herzegovina, Adriatic taps funding deal to progress Vares silver mine
Adriatic Metals has passed the halfway mark on construction of its high-grade Vares silver project in Bosnia & Herzegovina with its financial future secured following draw down of its first US$30m tranche from a $142.5m debt package.
The Balkans-focused, ASX-listed company opened its coffers to the $30m injection via senior secured debt with Orion Resource Partners on Friday as it pursues project completion and first concentrate production by September 2023.
A further $22.5m boost is also imminent pending final security documents and three more $30m tranches are expected be drawn down over the course of 2023.
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