3rd Feb 2014 10:33
LONDON (Alliance News) - Copper and gold producer Rambler Metals and Mining PLC Monday said it had reduced its debt facility with Sprott Resource Lending Partnership to CAD1.0 million from USD2.8 million in December.
Since December 3 2013, the company has made two additional payments of CAD750,000 and CAD1.0 million.
The company which operates in Newfoundland and Labrador, Canada said repayment of this facility continues to be a priority.
"Once the credit facility has been fully repaid, the board of directors will then continue its review of capital allocation arising from free cash flow to maximize shareholder return," it added.
The stock was trading at 31.80 pence Monday morning, down 0.20 pence or 0.6%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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