Refer to note 10 for details with respect to the interest rates on these loans. 9. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The Corporation's accounts payable and accrued liabilities mainly consist of amounts due to vendors and contractors involved in mine development work as well as process plant construction and commissioning activities. 10. LOANS PAYABLE 10. LOANS PAYABLE (CONT'D) 10.1 Revolving Credit Facility A $25 million (US$18.5 million) Revolving Credit Facility ("RCF") was entered into with Landsbankinn hf. and Fossar Investment Bank on September 1, 2023, with a two-year term expiring on September 1, 2025 and priced at the Secured Overnight Financing Rate ("SOFR") plus 950bps. Interest is capitalized and payable at the end of the term. The RCF is denominated in US Dollars and the SOFR interest rate is determined with reference to the CME Term SOFR Rates published by CME Group Inc.