VANCOUVER — Rye Patch Gold Corp. (the “Company” or “Rye Patch”) reports that in December 2017, the Company completed its US$4 million principal repayment and paid US$609,000 in interest pursuant to its credit agreement with Macquarie Bank Limited. An aggregate of US$5.1 million in principal repayments was made in 2017, reducing the outstanding principal balance to US$21.8 million. The credit facility was used in the construction and re-start of the Company’s flagship Florida Canyon mine in Pershing County, Nevada.
“Now that the Florida Canyon Mine is up and running, our priority is the reduction of this debt. With approximately 20 percent of the outstanding balance already repaid in 2017, and with repayments scheduled for 2018, the majority of the credit facility is forecast to be repaid by year’s end,” commented William C. Howald, the Company’s President and CEO.
