Metals Exploration Plc (LON:MTL) has agreed a rescheduled debt facility for US$81mln with its lenders for its Runruno project in the Philippines.
As reported last month, mining and processing operations at the mine are now ramping up soundly.
In the plant, processes are being ramped up progressively to design throughputs.
Under the terms, before what is deemed the project is complete, the interest on the loan is six months' US LIBOR plus a 5.75% margin, but that interest reduces to 4.75% once the project is completed.
The firm will make quarterly repayments until December 31, 2019.
In addition, the lenders - the Hongkong and Shanghai Banking Corporation Limited and BNP Paribas - have decided the group must hedge 35% of forecast annual gold production during the life of the facility.
Currently, Metals has sufficient hedging in place until September 2018 and no additional forward gold sale contracts have been requested.
Metals shares eased in London 4.5% to stand at 4.78p.