Trigon Metals Secures Initial Payment from Kombat Mine Sale
Trigon Metals Inc. has received its first quarterly payment from Kombat Mine, facilitating ongoing funding for exploration in Morocco. This structured payout includes eight quarterly payments and potential performance bonuses linked to copper production.
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Trigon Metals Inc. has completed the first quarterly payment from its agreement regarding the Kombat Mine in Namibia, part of a structured payout with Kamino Minerals Limited and Horizon Corporation Limited. The arrangement consists of eight quarterly payments and additional royalties linked to production at the New Horizon Mine.
A bonus payment of USD 3.5 million to USD 13 million is anticipated once production reaches 4,500 tonnes of copper over 90 days. The funds will support exploration activities at the Addana Project in Morocco, where drilling preparations are underway. The payment structure allows Trigon to maintain exposure to the Kombat Mine while focusing on its Moroccan interests.
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