This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Atna Resources Extends $17.5 Million Credit Facility

GOLDEN, Colo., March 18, 2013 /PRNewswire/ --  Atna Resources Ltd. ("Atna" or the "Company") (TSX:ATN / OTCQB:ATNAF) is pleased to report it has extended its outstanding CAD $17.5 million credit facility with Sprott Resource Lending Partnership ("Sprott").

In August 2011, Atna entered into an agreement with Sprott obtaining a CAD $20 million credit facility in order to finance the cash portion of the Pinson Mine acquisition and to provide initial development capital for the project. This facility has since been paid down to C$17.5 million.

Under the terms of the amendment Sprott has agreed that the outstanding balance will be amortized in twelve equal monthly payments of $1.46 million each commencing September 30, 2013 and ending on August 29, 2014. Once this secured facility has been reduced to C$11.5 million, the Company will be allowed to incur up to $35 million in additional indebtedness for the construction of the Reward mine.  The interest coupon on this facility remains unchanged at nine percent per annum. As consideration for extending the credit facility, Atna will issue 675,240 common shares of Atna to Sprott, pending final approval by the TSX.

"Atna is currently focused on adding value through the ramp-up of operations at its Pinson Mine. Amending this facility supports that effort. We are appreciative of Sprott's continued support for Atna's growth and development plans," states James Hesketh, President & CEO.

The Pinson mine is currently being transitioned from development to production with over 80 employees and contractors actively employed. A number of active ore stopes have been developed, while primary development of the Pinson spiral and Range Front lateral continues. One oxide ore shipment has been made and additional oxide ore shipments are currently in progress. Sulfide ore is being stockpiled for future shipment.   

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs