Adriatic Metals (ASX:ADT) said it expects to mine 40,000 tonnes of ore at the Rupice mine in Bosnia and Herzegovina in December, following the 129,194 tonnes of ores mined from January to November, according to a Thursday filing with the Australian bourse.
The precious and base metals explorer and developer maintained its guidance of 750,000 tonnes to 800,000 tonnes of ore mined at the site for 2025, with commercial production expected for December to January of next year, the filing said.
The company signed a term sheet for an AU$25 million concentrate prepayment arrangement with Singapore-based commodities supplier Trafigura to deliver 100,000 tonnes of zinc and lead-silver concentrates over 12 months.
The deal, set to close by year-end, is unsecured, with a 3-month grace period, and will be repaid in line with deliveries during the final nine months of the arrangement, the company added.
Following the Trafigura agreement, Adriatic Metals canceled its additional AU$25 million loan facility from Orion Metals (ASX:ORN).
The company's shares rose nearly 3% while shares of Orion Metals rose past 7% in recent Thursday trade.
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