Mining & Metals
Euro Manganese Amends Facility with Orion to Strengthen Financial Position
Euro Manganese (EMN.V) has amended its facility with Orion OMRF, which is managed by the Orion Resource Partners Group, to convert the outstanding loan amount into a royalty once the company satisfies a fundraise condition.The amended facility will help Euro Manganese's balance sheet and improve its financing flexibility as it advances the Chvaletice manganese project in the Czech Republic, the battery materials company said Friday.Following the conversion, the royalty increased to a range of 2.29%-2.46% of project revenues, which will be calculated quarterly based on achieved prices for the project's manganese products, Euro Manganese said.
$EMN.V
