• Business & Economy
  • Companies
  • Agriculture
  • Technology
  • Africa
Wednesday, August 20, 2025
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Property
  • E-Editions
No Result
View All Result
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Property
  • E-Editions
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
No Result
View All Result
Home Latest

Trigon inks N$680m streaming deal with Sprott for Kombat

by editor
October 26, 2022
in Latest
47
A A

Trigon Metals Inc. has signed a definitive agreement with Sprott Private Resource Streaming and Royalty Corp. and Sprott Mining Inc. for a N$680 million copper stream for its Kombat Mine in Namibia.

This is an increase from the original amount of N$498.8 million which Trigon announced in July, 2022, after it had signed a non-binding term sheet with Sprott.

Under the streaming transaction, Trigon will deliver to the investors 100% of the silver produced at the Kombat Mine. Proceeds will primarily be used to expand the plant capacity to 60,000 tonnes per month and complete ongoing works to dewater the mine, develop the Asis West underground mine.

The advance amount under the stream agreement will be comprised of N$680 million in cash payments, with an initial tranche of N$272million advanced on October 24, 2022.

 Kombat said N$47.1million of the initial advance was allocated to repayment of amounts owned to Sprott Mining under a loan agreement dated May 24, 2022, and N$99.8million was used to repay the principal under a convertible security funding agreement with Lind Global Fund 11 LP

The payment of the remaining N$47.1 million will be advanced upon the establishment of a deposit holding account subject to an agreement in the form satisfactory to the investors with financial institution and other standard closing conditions.

Trigon will receive 10% of spot as payment for all silver and copper into the stream as determined on the second day prior to the relevant delivery, with the balance applied as a credit to the advance amount. Following depletion of the advance amount, Trigon will receive 10% of spot as payment for all silver and copper delivered into the stream.

Alongside the silver delivered into the stream, long-term Trigon will deliver 1.625% of the copper production, in recognition of the N$181.4 million added to the agreement since the July 20th announcement of the term sheet.

The copper stream will start at 0% while mining from the open pit, increase to 6.5% during the in-term period of underground mining from Asis West until production from Asis Far West commences when it falls to the long-term rate of 1.625% if certain production targets are met.

The announcement that a definitive deal has been signed comes after Trigon recently announced that it had revised the mine plan to optimize production based on new information from mining the Kavango Pit.

In an August announcement, the company said it had noted marked improvements on grade control and recoveries and was pausing operations to focus the mine plan on this type of mineralization to reduce mine wide operating costs at Kombat. 

Trigon is a Canadian exploration and development company with a focus on copper and silver holdings in Africa, with operations in Namibia and Morocco.

 

author avatar
editor
See Full Bio
Tags: companies
Share23Tweet14Share4
Previous Post

What you need to know about Shiimi’s Mid-Year Budget Review

Next Post

Easy financial planning in just 6 steps

MUST READ

Gondwana plans 24-room hotel in Walvis Bay, eyes 2026 groundbreaking
Latest

Gondwana plans 24-room hotel in Walvis Bay, eyes 2026 groundbreaking

August 19, 2025
Understanding layer hens
Latest

Understanding layer hens

August 14, 2025
SuperSpar Leads the Pack with Cheapest Basket in July 2025
Latest

SuperSpar Leads the Pack with Cheapest Basket in July 2025

August 11, 2025
Choppies slips as Model takes the lead in affordability – July 2025 grocery survey
Latest

Choppies slips as Model takes the lead in affordability – July 2025 grocery survey

August 10, 2025
Echo Namibia eyes September launch for LEO satellite internet
Latest

Echo Namibia eyes September launch for LEO satellite internet

August 8, 2025
Namibians to wait longer for PayPal payout services
Latest

Namibians to wait longer for PayPal payout services

August 5, 2025
Next Post
Easy financial planning in just 6 steps

Easy financial planning in just 6 steps

Related News

Trade through Walvis Bay tops N$10 billion in May

Trade through Walvis Bay tops N$10 billion in May

July 7, 2025
Namibia ranks 6th in African countries with least debt burden

Namibia ranks 6th in African countries with least debt burden

May 3, 2024
NTB cracks down on unregistered Airbnb operators

NTB cracks down on unregistered Airbnb operators

February 9, 2025

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

  • Home
  • Companies
  • Business & Economy
  • Mining & Energy
  • Opinions
  • Property
  • E-Editions

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Property
  • E-Editions