Canadian Mining Journal

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LOAN: Ivernia borrows to reopen lead mine

AUSTRALIA – Ivernia Inc. has entered into a $20-million secured load facility with Sprott Resources Lending Partnership. The funds will be used to restart operations at Ivernia's Paroo Station lead mine in Western Australia. Ivernia has...



AUSTRALIA – Ivernia Inc. has entered into a $20-million secured load facility with Sprott Resources Lending Partnership. The funds will be used to restart operations at Ivernia’s Paroo Station lead mine in Western Australia. Ivernia has already drawn down $15 million.

The Paroo Station mine was suspended after Ivernia received a stop order from the environment ministry relating to the transportation of its lead carbonate to and through the Port of Fremantle in December 2010. The order has since been lifted and Ivernia plans to resume mining in Q2 2013.

More information is available at Ivernia.com.


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