22 02 2016

Lascaux Resource Capital Fund's metal prepay arrangements

Allens has acted for Lascaux Resource Capital Fund (LRC) on an amendment to its secured metal prepay arrangements with Salt Lake Mining Pty Ltd (SLM) in a deal which also involved the sale of LRC's shareholding in SLM


The deal is part of a larger transaction which facilitates the acquisition by Royal Nickel Corporation (RNC) of a 67% stake in SLM, to be accomplished through a combination of an equity issuance by SLM and a series of share purchase agreements with existing shareholders. SLM owns 100% of the Beta Hunt mine in the Kambalda mining district, which is a relatively unique mine in that it produces both nickel and gold. Under LRC's existing prepay arrangements (on which Allens also acted), LRC is entitled to a specified amount of the gold and nickel produced from the mine during the term of the prepay agreement. Allens has acted for Lascaux Resource Capital Fund with a team including Mark McAleer (Picture); Ben Farnsworth, Mark Malinas, and Jamie Donnelly. Involved fees earner: Mark McAleer - Allens; Ben Farnsworth - Allens; Mark Malinas - Allens;

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