First Quantum Minerals Announces Renewal of $250 Million Revolving Loan Facility
VANCOUVER, BRITISH COLUMBIA -- Jan. 12, 2009 - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM) (LSE: FQM) today announced the renewal of its existing $250 million revolving loan facility with Standard Chartered Bank. The renewed facility matures in January 2010, bears interest at LIBOR plus 4.5% and is available for general corporate purposes. The loan is secured by a first ranking mortgage over investments owned by the Company.
All of the Company's existing banking facilities remain in good standing.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
Listed in Standard and Poor's
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of gold, copper, cobalt and sulphuric acid, estimated future production, estimated costs of future production, the Company's hedging policy and permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, gold, cobalt and sulphuric acid, the factual results of current explorat ion, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, and Ontario Securities Commissions, the Autorite des marches financiers in Quebec, the United States Securities and Exchange Commission and the London Stock Exchange.
First Quantum Minerals Ltd. - North American Contact
(604) 688-6577 or Toll Free: 1-888-688-6577
Fax: (604) 688-3818
First Quantum Minerals Ltd. - United Kingdom Contact
+44 140 327 3484
Fax: +44 140 327 3494
Hogarth Partnership Ltd.
+44 (0) 20 7357 9477
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