31 July 2014
July 31, 2014
Vancouver, British Columbia, July 31, 2014 - Elgin Mining Inc. ("Elgin Mining" or the "Company") (TSX: ELG) announced today that is has received, by way of the previously disclosed convertible bridge loan, approximately C$5 million from Mandalay Resources Corporation ("Mandalay") (TSX: MND).
Elgin Mining used the proceeds of the loan to repay its existing loan from Sprott Resource Lending Partnership and has now settled all outstanding reclamation obligations relating to its former coal operations in Kentucky.