Telson Resources Secures USD $2 Million Caterpillar Leasing Credit Line And Provides Corporate Update on Tahuehueto Development Activities

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1592-tsx-venture/tsn/30055-telson-resources-secures-usd-2-million-caterpillar-leasing-credit-line-and-provides-corporate-update-on-tahuehueto-development-activities.html

Vancouver, British Columbia / TheNewswire / March 6, 2017 – Telson Resources Inc. (“Telson” or the “Company”) (TSX Venture – TSN.V) is pleased to announce that it has secured a USD $2 million credit line for leasing underground and surface mining equipment for mine development at its 100% owned Tahuehueto Project (the “Project”) located in northern Durango State, Mexico.

This credit line has been secured with Caterpillar Credito SA De CV ER in the form of financial leasing that will require a down payment of 15% for new Cat surface equipment and 25% for new Cat underground equipment. The method of payment under the lease will consist of monthly payments of principal and interest with a term of 60 months for Cat surface equipment and 36 months for Cat underground equipment. These terms are valid up to November 30, 2017. Telson intends to use the leasing facility to acquire one 8 yd.? scoop tram, 40 tonne underground dump truck and 13.5 yd.? front end loader to support the mine development and future mining production. This equipment along with Telson’s recently purchased used scoop tram will easily support the production estimated under the Company’s recently released Pre-Feasibility’s Study as well as allow for expansion possibilities under the first year production expansion plans to increase production towards 1000 tonnes per day during the first year of production.

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