29th Sep 2022 17:16
Kropz PLC - African phosphate developer - Makes third and final drawdown on its ZAR121.5 million, roughly GBP6.1 million, facility with major shareholder ARC Fund. Says drawdown was for ZAR14.5 million and will be used to meet immediate cash requirements, due to delays in the ramp up of operations at Kropz Elandsfontein (Pty) Ltd.
"Kropz and ARC Fund are currently working on a comprehensive funding structure to finance any further funding requirements in Kropz," it says.
Current stock price: 5.00 pence
12-month change: up 11%
By Sophie Rose; [email protected]
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