Exhibit One: When SCZ arranged its original $28.4m pre-paid silver deal it said the cash was to build its San Felipe mine. Here's the October 2nd NR that announced the deal's closure:
VANCOUVER, Oct. 2, 2014 /PRNewswire/ - Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") (SCZ.V) is pleased to announce that it has finalized and closed the US$28.4 million Pre-paid Silver Purchase Agreement with JMET, LLC ("the Agreement") previously announced on September 18, 2014. The funds will be used to advance the development of the Company's second project, San Felipe, in Sonora State, Mexico.
Exhibit Two: This morning SCZ said it's not going ahead with San Felipe so...it's only borrowing $12.4m. Here's the excerpt:
Pursuant to the original agreement the Company received an upfront payment of US$28.4 million . With the quantity of silver ounces to be delivered reduced to 2,600,000 ounces, the upfront payment has been commensurately reduced to US$12.4 million .