Monday, March 02, 2020 6:22:09 PM
March 2, 2020
HIGHLIGHTS
Jervois has appointed RPM Global USA Inc (“RPMâ€) to act as Independent Engineer (“IEâ€) for financing Idaho Cobalt Operations (“ICOâ€)
RPM will assess ICO on behalf of lender(s) in relation to the project financing required for the final phase of construction
RPM has a strong track record of acting as IE for debt financiers on mining projects globally and has significant base metals experience in North America
ICO Bankable Feasibility Study (“BFSâ€) due for completion by the end of March 2020; targeted close for project financing is mid-2020
This timeline enables final construction at ICO to commence during 2H 2020; first commercial production expected end of Q4 2021
Jervois Mining Limited (“Jervois†or the “Companyâ€) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) (FRA: IHS) is pleased to announce it has appointed RPM to act as independent engineer (“IEâ€) for prospective lenders as the Company works to finalise debt financing for its Idaho Cobalt Operations (“ICOâ€), USA. Jervois took ownership of ICO in July 2019.
RPM has a well-established (50-year) track record of acting as IE for financiers on mining projects globally, including significant base and precious metal experience in North America. The scope of work includes RPM completing an independent due diligence review of ICO and preparing an Independent Technical Expert (“ITEâ€) report in a form suitable for debt financiers of the project.
An Information Memoranda was sent to selected senior lenders in December 2019, with Jervois receiving indicative financing proposals the following month. A final decision with regard to lender(s) appointment will be aligned with BFS finalization.
The ICO BFS remains on track for completion by end of March 2020. The appointment of RPM as IE is an important step to maintain Jervois’s targeted timeline of debt facility drawdown availability by mid-2020.
Recent JRV News
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 08/04/2023 09:47:00 PM
- Further Acquisition of Shares of Jervois Global Limited • PR Newswire (Canada) • 07/28/2023 05:54:00 PM
- Acquisition of Shares of Jervois Global Limited • PR Newswire (Canada) • 07/12/2023 02:27:00 PM
- L'Organisme canadien de réglementation des investissements permet la reprise de la négociation - JRV • PR Newswire (Canada) • 07/04/2023 01:52:00 PM
- Canadian Investment Regulatory Organization Trade Resumption - JRV • PR Newswire (Canada) • 07/04/2023 01:49:00 PM
- Suspension de la négociation par l'Organisme canadien de réglementation des investissements - JRV • PR Newswire (Canada) • 06/27/2023 12:35:00 PM
- Canadian Investment Regulatory Organization Trading Halt - JRV • PR Newswire (Canada) • 06/27/2023 12:31:00 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM