ALTYNGOLD PLC: Funding updtate
25 July 2022 - 04:00PM
UK Regulatory
TIDMALTN
AltynGold Plc
("AltynGold" or the "Company")
Funding update
AltynGold plc (the Company) is pleased to announce that its
application for an additional credit line for an amount of US$40m
from Kazakh Bank JSC "Bank Center Credit" (BCC) has been approved
by the bank's credit committee.
The loan is repayable in instalments over a term of six and a
half years and bears interest at 6%.
The loan will be used to expand the capacity of the processing
plant to 1mtpa in anticipation of the expected increase in mining
production at Sekisovskoye.
The signing of the loan agreement will be carried out after
passing the necessary internal procedures of the Bank. The Company
will update shareholders as plans progress.
Altyn's CEO Aidar Assaubayev commented:
"The goal was to obtain the necessary financing at competitive
terms and in the best interest of shareholders. After exploring a
number of opportunities and an extensive due diligence period we
are very pleased to update our shareholders on the funding
approval. The proceeds will accelerate our growth strategy by
expanding production and processing capacity towards our midterm
target of 1mtpa. Timely execution of this ambitious plan should set
the stage for a sustainable dividend policy."
Further Information:
For further information please contact:
AltynGold Plc
info@altyn.uk
Rajinder Basra
+44 (0) 203 432 3198
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
Information on the Company
AltynGold Plc (LSE:ALTN) is an exploration and development
company, which is listed on the main segment of the London Stock
Exchange.
To read more about AltynGold Plc please visit our website
www.altyngold.uk
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220724005006/en/
CONTACT:
AltynGold Plc
SOURCE: AltynGold Plc
Copyright Business Wire 2022
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