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| 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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 68.53M | -287.04M | -0.7507 | -0.02 | 4.97M |
From Apr 2021 to Apr 2024
TIDMCNG
China Nonferrous Gold Limited
("CNG" or the "Company")
Execution of New 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:
Banking Facility from China CITIC Bank Corporation Limited Zhuhai Branch
The Company has today executed a foreign currency working capital loan agreement with China CITIC Bank Corporation Limited (Zhuhai Branch) ("CITIC") for a loan facility of up to US$20 million (the "new CITIC Loan"). This will be used to repay US$20m of the CNMC Trade loan with an annual interest at 3.25% over 3 month LIBOR, which was extended on 26 March 2021 and is repayable on 26 November 2022 (see announcement dated 26 March 2021). This loan was first executed on 1 July 2019.
The new CITIC Loan facility is repayable 12 months from the date of draw down; and has an annual interest of 3.00% plus the average LIBOR rate over the previous 6 months.
The new CITIC Loan has guaranteed (as a standalone agreement) by China Nonferrous Metal Mining (Group) Co., Ltd ("CNMC") (the "Guarantee") in 2021. The Guarantee will expire on 26 January 2023.
There are no arrangement fees payable to CITIC, nor any fees payable to CNMC for providing the guarantee, for CNG.
Summary of Current Financial Position
At the current time, excluding the new CITIC loan outlined above, loans drawn down by the Company amount to c. USD$319 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, Andrew de Andrade
Tel: +44 (0)207 220 1666
BlytheRay (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
View source version on businesswire.com: https://www.businesswire.com/news/home/20220406005635/en/
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SOURCE: China Nonferrous Gold Limited
Copyright Business Wire 2022
(END) Dow Jones Newswires
April 06, 2022 06:50 ET (10:50 GMT)
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