- Three Valley (TVC) has commenced Papomono block caving operations at Minera Tres Valles (MTV) in Chile
- The move will save on demobilization costs
- The company and MTV’s senior secured lenders intend to fund the property into July 2022 as they work out long-term financing
- Three Valley Copper is focused on copper production on its 95.1-per-cent owned, 46,000-hectare Minera Tres Valles complex in Chile
- Three Valley (TVC) is up by 50 per cent trading at $0.09 per share
Three Valley (TVC) has commenced Papomono block caving operations at Minera Tres Valles.
Commencing operations allows the company to retain its mining contractor and avoid demobilization costs.
Discussions are ongoing with MTV’s senior secured lenders, who requested a technical optimization study of Papomono. Phase one of the study supports the resumption of operations.
The company and its lenders intend to provide C$11M in super senior secured funds to operate MTV into July 2022 as they search for a long-term financing solution.
Without funding, MTV will have sufficient funds to operate until April 2022.
MTV will process third-party ore in a limited capacity during Papomono’s ramp-up.
Three Valley Copper is focused on copper production on its 95.1-per-cent owned, 46,000-hectare Minera Tres Valles complex in Chile.
Three Valley (TVC) is up by 50 per cent trading at $0.09 per share as of 11:47 am EST.