The project facility also provides for up to C$25 million in capitalized interest and a C$40 million standby cost overrun facility (COF). The standby COF is an addition to the terms previously announced in April 2021, representing a further enhancement of these financing facilities to de-risk development in the current economic environment.
“The committed underwriting of the PLF by two renowned global banks is another important step towards de-risking the development of Blackwater. This underlines the robust economics and debt carrying capacity of the project, further evidenced by the addition of the standby cost overrun facility to the original PLF proposal,” CEO Steven Dean said in a press release.
The company added that it remains confident in the C$645 million initial capital cost estimate outlined in the 2021 feasibility study. According to the technical report, Blackwater is project with a net present value of…
