Nicola Mining Inc. (TSX.V: NIM) (OTCQB: HUSIF) has announced a $2 million unsecured credit facility to strategic partner Blue Lagoon Resources Inc., a move that underscores Nicola's confidence in the near-term production trajectory of the project. This financial support is part of Nicola's vertically integrated approach, which combines its Merritt milling infrastructure and tailings facility with financial facilitation to bolster regional gold development.
The credit facility allows Blue Lagoon access to $2 million over a 12-month term, with the agreement stipulating interest-only payments for the first 11 months and an option to extend for another year under revised terms. This strategic financial support highlights Nicola Mining's commitment to fostering industry collaboration and supporting responsible mining initiatives in British Columbia.
Nicola CEO praised Blue Lagoon's disciplined execution, particularly noting the company's thorough permitting navigation and strong community engagement. This partnership exemplifies Nicola's strategic model of linking its infrastructure and financial resources to nearby projects, thereby enhancing the potential for successful gold production in the region.
For more information on the credit facility, visit https://ibn.fm/q7HZO.
