31st Mar 2015 12:46
LONDON (Alliance News) - Kenmare Resources PLC on Tuesday said it has reached an agreement with project lenders to extend the date for delivery of a budget to April 30.
Kenmare said it, the project lenders and Absa, a unit of Barclays PLC, have made progress towards agreeing the principal terms of a further financing amendment.
Kenmare said it expects the amendment to extend the maturity of its current lending facilities and reduce the amortisation requirements in favour of a cash-sweep mechanism.
In addition, the company said grid power was restored to the Moma mine in Mozambique over the weekend, following recent flooding in the area.
Shares in Kenmare were down 2.1% to 3.73 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Kenmare Resources