The three mandated lead arrangers, Barclays Capital, Credit Suisse and Standard Bank, have received credit approval to provide the funds to Finders next year.

The package comprises a term loan facility of up to $103 million for construction, a cost overrun facility of $20 million and a working capital facility of $15 million to fund short-term tax obligations.

There will be some hedging required by Finders.

Total capital costs for the stage 1 expanded demonstration plant and stage 2 main plant are expected to be $155 million including an accuracy provision of $17 million.

The existing 1825 tonnes per annum demonstration plant will be restarted within three months of a board decision to proceed.

Production will ramp up to 7000tpa, with commissioning of the expanded demonstration plant around 10 months after the start of construction activities.

Full capacity of 25,000tpa will be reached with re-commissioning of the Whim Creek plant around 20 months after the start of construction activities.

The plant arrived in Indonesia from Port Hedland earlier this month.

Based on the bankable feasibility study, the post-tax, net present value of Wetar is $304 million.

“Finders is one of the few [Australian Securities Exchange] listed pre-production copper companies with a clear path and timeline to production,” Finders managing director Chris Farmer said.

“The coming months will be important for us as we move into the construction phase – 2012 will be a very big year for the company.”

The final step is the conversion of the forestry permit, which Finders says is in the final stages of documentation and should be completed next month.

Shares in Finders remained at A35c this morning.