15th Sep 2015 07:58
LONDON (Alliance News) - Weatherly International PLC on Tuesday said it has struck a deal for the drawdown of USD4 million under its master facility agreement with Orion Mine Finance (Master) Fund I LP.
The mining company said it has executed a further amendment and restatement agreement with Orion to enable it to drawdown USD4 million under Facility C, and will use the proceeds to support ongoing requirements and for the completion of the ramp up of the Tschudi mine.
"I am pleased to confirm the strong positive support shown by our partner and largest shareholder, Orion, in confirming availability of a USD4 million drawdown under Facility C of our debt facilities," Chief Executive Craig Thomas said in a statement.
Shares in Weatherly were untraded Tuesday morning, last quoted at 0.697 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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