AMED Amedeo Res

TIDMAMED

RNS Number : 9390T

Amedeo Resources PLC

11 January 2017

11 January 2017

Amedeo Resources PLC ("Amedeo")

Loan facility of US$800,000 provided to MGR Resources Pte Ltd ("MGR")

Amedeo has made available to MGR Resources Pte ("MGR") a loan facility of US$800,000. The facility bears interest at 10% per annum and is intended to be used for working capital. The iron ore price has been rising since its lows (around US$38 per tonne) at the end of 2015 and now is over US$70 per tonne. This rise has led to increasing opportunities in the iron ore market which MGR intends to take advantage of. MGR has an existing US$400,000 loan from Amedeo.

ENDS

For further information please visit www.amedeoresources.com or contact:

Enquiries:

 
Glen Lau                       Zafar Karim 
 Chief Executive Officer        Executive Director 
 Amedeo Resources PLC           Amedeo Resources PLC 
 Tel office: +44 20 7583 8304   Tel office: +44 20 7583 8304 
Paul Shackleton                Elliott Hance 
 Nominated Adviser & Broker     Joint Broker 
 WH Ireland                     Beaufort Securities Limited 
 Tel office: +44 113 394 6600   Tel office: +44 20 7382 8300 
 

Notes

Amedeo Resources PLC is an investment company whose policy is to invest principally, but not exclusively, in the resources and resources infrastructure and asset sectors. Amedeo has a deep and broad global network and wide contact base in these sectors, including in East and South East Asia and the Middle East which it leverages to source and make investments. These sectors exhibit high growth and are strategically important. Amedeo is a proactive investor which assists its investee companies to grow by providing investment, expertise and contacts.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMMGMMKMGGNZM

(END) Dow Jones Newswires

January 11, 2017 10:13 ET (15:13 GMT)

Amedeo Res (LSE:AMED)
Historical Stock Chart
From Apr 2024 to May 2024

Amedeo Res (LSE:AMED)
Historical Stock Chart
From May 2023 to May 2024