21st Dec 2015 09:12
LONDON (Alliance News) - Weatherly International PLC on Monday said the deferral in commencing repayments of debt under its Tranche B facility with Orion Mine Finance (Master) Fund I LP has been made formal.
The first repayment under the facility is now due in May 2016, Weatherly International said, followed by quarterly repayments until February 29, 2020. In addition, the amended agreement with Orion provides a further Tranche D facility of USD4.0 million to the AIM-listed copper mining company operating in Namibia in southern Africa.
"I am pleased to confirm the strong and continuing positive support shown by our partner and largest shareholder, Orion," Chief Executive Craig Thomas said.
Shares in Weatherly were up 28% at 0.415 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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