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NVRO Metals Signs Heads of Agreement With Transamine for Proposed Copper Cathode Offtake and Financing Package of up to US$25 Million

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NVRO Metals (NVRO.V) entered into a "heads of agreement", with Transamine SA for a proposed copper cathode offtake and financing package of up to US$25 million to support the staged launch of the NVRO Metals Hub in the Northern Territory, Australia, it said on Monday.

Under the deal, Transamine would buy the copper cathode production from the NVRO Metals Hub for a limited period of time.

The proposed package comprises a prepayment facility of up to US$10 million intended to support refurbishment and launch activities, a revolving working capital facility of up to US$5 million available during commissioning and early production and an optional cobalt and nickel prepayment of up to US$10 million and an associated offtake arrangement which, if agreed, would provide additional funding linked to future by-product production, it said.

"This arrangement is intended to provide both a pathway to market for copper cathode production and a financing structure aligned with the launch of the NVRO Metals Hub," said NVRO Metals CEO Grant Freeman. "Importantly, the structure is focused on supporting production while preserving flexibility for future copper, cobalt and nickel opportunities, as well as potential government and strategic funding initiatives as the project advances."

Shares of the company were last seen up 2.5% at $0.21 on the TSX Venture Exchange.

Price: $0.21, Change: $+0.01, Percent Change: +2.44%

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