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CNG China Nonferrous Gold Limited

1.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
China Nonferrous Gold Limited LSE:CNG London Ordinary Share KYG215771042 ORD USD0.0001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.30 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 68.53M -287.04M -0.7507 -0.02 4.97M

China Nonferrous Gold Financial Update

30/10/2017 7:10am

UK Regulatory


China Nonferrous Gold (LSE:CNG)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more China Nonferrous Gold Charts.
 
TIDMCNG 
 
 

30 October 2017

 

China Nonferrous Gold Limited ??????????

 

("CNG" or the "Company")

 

Financial Update

 

China Nonferrous Gold Limited ?????????? (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 financial update.

 

Banking Facility from China Construction Bank Corporation Macau Branch

 

The Company has signed an agreement with China Construction Bank Corporation Macau Branch for a loan facility of up to USD$20 million ("CCBC Loan"). The CCBC Loan facility is for a maximum of one year and repayable 12 months from first drawdown. The terms of the CCBC Loan includes an annual interest rate at 1.3% plus 3 month LIBOR and is governed by the law of Macau. The facility will be secured by a standby letter of credit ("SBLC") from China Construction Bank Corporation Beijing Branch, for the aggregate amount of USD$20,618,556.70 , which expires in 12 months from the date of first drawdown. An SBLC fee of 1.15% is payable per annum.

 

The CCBC Loan is expected to be drawn down shortly and will be used for working capital and to fund the restoration of production at the Pakrut gold mine.

 

The Company continues to engage in discussions regarding a wider refinancing of the business. As noted in the Company's interim results for the period ended 30 June 2017 the refinancing is required in the near-term to repay US$20,000,000 of its loan to CNMC International Capitals Company Limited due on 26 November 2017 as well as the short term financing announced on 29 September 2017 which is due shortly afterwards.

 

For further information please visit the Company's website (www.cnfgold.com) or contact:

 

China Nonferrous Gold Limited

 

Yu Lixian, Managing Director

 

Tel: +86 10 8442 6681

 
 

Investec Bank Plc

 

Jeremy Ellis, George Price

 

Tel: +44 (0)20 7597 5970

 
 

Beaufort Securities Limited

 

Jon Belliss

 

Tel: +44 (0)20 7382 8300

 
 

Blytheweigh

 

Tim Blythe, Camilla Horsfall

 

Tel: +44 (0)20 7138 3224

 
 

LEI: 213800N6OF4LUDO7WD52

 

2.2. Inside information

 
 
 

View source version on businesswire.com: http://www.businesswire.com/news/home/20171030005393/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

October 30, 2017 03:10 ET (07:10 GMT)

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