We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| China Nonferrous Gold Limited | AQSE:CNG.GB | Aquis Stock Exchange | Ordinary Share | KYG215771042 | Ordinary Shares 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% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2022 to Jul 2024
TIDMCNG
China Nonferrous Gold Limited
("CNG" or the "Company")
Execution of Short-term Loan Agreement
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 update:
Short-term Loan from CNMC Trade Company Limited
The Company has today executed a loan agreement with CNMC Trade Company Limited ("CNMC Trade") for a loan of up to USD $19.50 million (the "CNMC Loan"). The CNMC Loan will be used to repay the existing China CITIC Bank Corporation Limited ("CITIC") loan facility of USD $20m, which is due for repayment on 24(th) January 2023 (see announcement dated 22 January 2021 and 24 January 2022 for further details). The outstanding balance of US$0.5m of the CITIC bank loan will be repaid from the Company's existing cash resources.
The CNMC Loan is repayable within 3 months from the date of drawdown. The terms of the CNMC Loan includes an annual interest at 0.5% over 3 month LIBOR. There are no extra fees payable to CNMC Trade for this arrangement.
Approximately US$19.50 million (all) of the CNMC Loan is expected to be drawn down immediately.
Summary of Current Financial Position
At the current time, excluding the loans outlined above, loans drawn down by the Company amount to c. USD$318.48 million, this includes US$85m of banking facilities (unaudited).
Related Party Transaction
The Company's major shareholder is China Nonferrous Metals International Mining Co., ltd ("CNMIM"), which holds 38% of the issued share capital of the Company and China Non-ferrous Mining Corporation ("CNMC") is the major shareholder of CNMIM and CNMC Trade. Accordingly, CNMC Trade is deemed to be a related party to the Company under the AIM Rules.
The directors of the Company with the exception of (i) Yu Lixian who is the chairman of the board of CNMIM and; (ii) Zhang Hui who is CEO of CNMIM, and (iii) Wang Xiaohua who is the director of Finance Department of CNMIM, consider that having consulted with WH Ireland, the Company's nominated adviser, the terms of the CNMC Loan agreement are fair and reasonable insofar as the Company's shareholders are concerned.
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, Andrew de Andrade Tel: +44 (0)207 220 1666 BlytheRay (PR) Tim Blythe, Megan Ray 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005542/en/
Hot Features
Premium
CONTACT:
China Nonferrous Gold Limited
SOURCE: China Nonferrous Gold Limited
Copyright Business Wire 2023
(END) Dow Jones Newswires
January 24, 2023 03:06 ET (08:06 GMT)
1 Year China Nonferrous Gold Chart |
1 Month China Nonferrous Gold Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
