First Bauxite Corporation (FBX) has signed a second bridge loan agreement for additional financing of up to US$10 million to start construction of its mining and processing facilities at its Bonasika project site on the Essequibo River.
The agreement was signed on Friday with Resource Capital Fund VI LP (RCF VI), FBX President and Chief Executive Officer Alan Roughead announced in a news release.
FBX, a Canadian company, has formally notified the Guyana Geology and Mines Commission that proceeds of the second bridge loan will be used to start the construction as required under its mining licence.
