Curragh Resources (TSE) and partner Hillsborough Resources (TSE) recently completed arrangement for a $55-million financial package for construction of the Mt. Hundere lead-zinc project in the Yukon Territory. Scheduled to be in production this summer, the 100,000-ton-per- year project is held 80% by Curragh and 20% by Hillsborough.
Before the financial package was approved by holders of Curragh’s existing 11 1/2% convertible subordinated debentures, Curragh had to amend, subject to regulatory approval, the debenture conversion rate to $2.50 from $2.75 per share.
Hillsborough provides contracting and engineering services primarily to the Canadian mining industry through its Canadian Mine Development division. Curragh operates a lead-zinc mine at Faro, Y.T.
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