ADVENTUS MINING CORPORATION Adventus Mining Corporation (Adventus Mining) announced that it has satisfied all conditions precedent to receive the USD 13 million early deposit (the "Early Deposit") from Wheaton Precious Metals International Ltd. (Wheaton) as part of the USD 175.5 million precious metals stream commitment to the El Domo copper-gold project, with the wire to be initiated today. The Early Deposit has no cost or fees for 18 months, after which it is expected to be consolidated into the full USD 175.5 million partial precious metals stream. The Early Deposit is expected to cover ongoing pre-construction expenditures in the first half of 2023, including continuation of detailed engineering and early site works.
The Early Deposit was envisioned to be drawn by year-end to fund continuing detailed engineering and pre-construction program, while actively pursue final construction and permitting approvals. Between Wheaton, Trafigura and the Stracon-Ripconciv joint venture arrangements, have secured additional non-equity dilutive facilities to fund the remaining El Domo work programs prior to the start of full construction.
