URSA Major Minerals Incorporated (TSX:UMJ) reported that the Company has arranged a credit facility with Auramet Trading, LLC to assist finance the Company’s metal inventory and receivables associated with ore produced from the Shakespeare Mine.
The press release is quoted as saying:
Auramet, based in Fort Lee, New Jersey, is a leading metals trading, merchant banking and advisory firm specializing in the global resource sector. The total amount of the facility is US$2.5 million and advances under the facility are expected to commence next month and will match the production of ore from the Shakespeare Mine.
