Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) said it has received $10 million in bridge financing from affiliates of its joint venture partner, JCHX Mining Management Co Ltd.
The financing, provided through two $5 million loans, will support the continued advancement of Cordoba’s mineral projects, including detailed engineering design work at its Alacran copper-gold-silver project in Colombia, the company said in a statement.
"With the receipt of the bridge financing, we continue to focus on advancing the detailed engineering design work program at the Alacran project while engaging with our stakeholders to move the project towards the construction stage," said Sarah Armstrong-Montoya, Cordoba’s CEO.
Cordoba and JCHX are joint venture partners in the Alacran project, which aims to become a significant producer of copper, gold, and silver.
The funds will also be used for general corporate purposes, the company said.