Dual-listed Alphamin Resources has announced a proposed nonbrokered private placement of up to $35-million as a prepayment against $98-million of senior secured debt. Alphamin has announced an agreement in principle for up to a 31% reduction in debt, resulting in significantly reduced interest rates on the outstanding balance, improved debt covenants and debt profile; debt service headroom secured over the tenor of the remaining loans assuming a lower tin price environment; and a strengthened balance sheet and lower debt commitments enabling the company to maintain its critical path towards growth initiatives.
