- Strategic financing of A$3 million provided by ASX listed silver producing company, Alcyone Resources Limited;
- Secured funds will be utilised towards bringing New Departure Silver Project into production and facilitate ongoing development of the Conjecture Silver Project.
Black Mountain Resources Limited (ASX|AIM:BMZ) the silver focused development company with interests in the US, is pleased to announce that the Company has secured A$3 million strategic long term debt financing with Alcyone Resources Limited (ASX:AYN) (“Alcyone”) which will be utilised towards funding the development of the New Departure and Conjecture Silver Projects.
Black Mountain Chairman Peter Landau said, “We are delighted to have secured the funding and support of silver producer Alcyone Resources. Not only will this $3million capital injection enable us to advance our high grade New Departure Silver Project into targeted production in the first quarter of 2014 but it will also facilitate significant development of our Conjecture Silver Project. We are fully committed to our low production cost and low capex business model.”
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