Tulsequah Chief Mine loses big investor (Juneau Empire)
Chieftain Metals Corp., the company attempting to reopen the Tulsequah Chief Mine, has taken a financial hit.
Colorado-based Royal Gold provided Chieftain with a $10 million advance in December 2011 but has backed out of the agreement and requested repayment in full. Chieftain announced Dec. 23 that it will use an $18.5 million bridge loan from West Face Capital, announced in July, to repay it.
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