15th Jul 2020 11:43
(Alliance News) - China Nonferrous Gold Ltd on Wednesday announced it has extended the repayment period for USD146.5 million in loans that it has in place from CNMC Trade Co Ltd.
China Nonferrous Gold has a total of three loans from CNMC Trade. One of USD120 million and another of USD6.5 million which are both now due to be repaid on December 20 with interest rates of 3.7%. The last loan is worth USD20 million and is due to be repaid on November 26 with the same interest rate of 3.7%.
The loans had been due to be repaid on the same dates in 2019, but China Nonferrous Gold has been in discussions with CNMC for an extension to the loans.
The mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan has a total of USD341 million in debt facilities.
China Nonferrous Gold shares were up 10% at 13.70 pence each on Monday morning in London.
By Greg Roxburgh; [email protected]
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