LONDON--(BUSINESS WIRE)--
China Nonferrous Gold Limited 中国有色黄金有限公司
("CNG" or the "Company")
Execution of New Loan Agreement
China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, is pleased to provide the following update:
Second Drandown of Banking Facility from China CITIC Bank Corporation Limited（Zhuhai Branch）
The Company has today completed a second drawdown of a banking facility from China CITIC Bank Corporation Limited (Zhuhai Branch) (“CITIC”). The details of this banking facility are set out in the announcement dated 22 January 2021. The total amount drawn down in this second draw down is US$14.55m (total amount now drawn down under this facility is US$34.55m). The funds from this drawdown will be used to repay the China Construction Bank (Asia) Corporation Limited loan of US $14.55m which is due for repayment in March 2021.
Summary of Current Financial Position
At the current time, loans drawn down by the Company amount to c. USD$328 million, this includes US$99.55m of banking facilities (unaudited).
For further information please visit the Company’s website (www.cnfgold.com) or contact:
China Nonferrous Gold Limited
Zhang Hui, Managing Director
Tel: +86 10 8442 6662
WH Ireland Limited (NOMAD & Broker)
Katy Mitchell, James Sinclair-Ford
Tel: +44 (0)207 220 1666
Blytheweigh (PR)
Tim Blythe
Tel: +44 (0)20 7138 3224
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014