14th Feb 2017 08:06
LONDON (Alliance News) - Hummingbird Resources PLC on Tuesday said it has fully drawn down the additional funds under its bridge loan with Taurus Funds Management Pty Ltd.
The miner signed a deal with Taurus in December to increase the existing bridge loan in place to USD25.0 million from USD15.0 million, and said on Tuesday all these funds have now been drawn down.
In December, the loan facility was extended until April 8, 2017, and Hummingbird said it would use the funds to develop its Yanfolila gold project in Mali into production later this year.
Shares in Hummingbird were down 0.4% at 25.66 pence on Tuesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2017 Alliance News Limited. All Rights Reserved.