Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Arian Silver's Financing Negotiations Advancing 0 comments
    Aug 23, 2013 2:26 PM

    Arian Silver (LON:AGQ, CVE:AGQ) told investors that negotiations over future financing are positively advancing.

    As reported at the end of July, the firm oulined a C$15mln financing through a placing of convertible loan notes.

    The financing comprises a senior secured convertible note, which would mature at a premium of 5% if not otherwise converted, 12 months from issue and has interest of 14% to be prepaid in full upon closing of the placing.

    The Toronto venture exchange has conditionally approved the placing, the firm said.

    Previously, the firm said funds from the issue will be used on numerous things, including the acquisition of the El Bote processing plant, which will need to be transported piece by piece to a more convenient location.

    The second-hand custom mill is expected to deliver cost savings of some 75% compared to previous toll milling operations.

    Proceeds will also be used on the refurbishment of the plant, new ground works at the new site of the mill, as well as expansion of the San Jose mine in Mexico.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.