On December 16, 2009, Anvil Mining Limited and Trafigura Beheer B.V. completed the second tranche of an equity financing, which together with proceeds of the first tranche completed on September 17, 2009, resulted in proceeds to Anvil of US$100,000,000 and the issuance by Anvil of 48,397,929 common shares and 11,228,320 common share purchase warrants to Trafigura. In addition, Trafigura made available to Anvil a project loan facility with a total commitment of US$100,000,000. Proceeds of the equity and loan financing will be used to recommence construction of Anvil's Kinsevere Stage II Solvent Extraction – Electrowinning plant in the Democratic Republic of Congo. Various other agreements were also entered into by Trafigura and Anvil, including an offtake agreement, a technical services agreement and an ancillary rights agreement.
Lawson Lundell LLP acted as Canadian counsel for Anvil with a team that comprised Gordon Chambers, Karen MacMillan, Jane Murdoch, Stephen Cooper and MatthewWalker (corporate/securities); Kenneth Flowers and Michael Low (debt); Anthony Ryan (mining) and Leonard Glass (tax).
Stikeman Elliott LLP acted as Canadian counsel for Trafigura with a team comprised of Stuart Olley, Gordon Chmilar and Cameron Schepp (corporate/securities) and Scott Perrin and Michael Dyck (debt).