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AfriTin Mining executes, draws down Standard Bank lending facility
The AIM-traded firm said financial close was reached on the NAD 90m (£4.5m) senior secured term loan.
It said it was immediately drawing down the total amount available, marking the beginning of a "long-term financing partnership" with Standard Bank.
The proceeds from the loan would be used to fund the expansion of the phase one pilot processing plant, the board said.
"We are pleased to announce the financial close and drawdown of the term loan facility with Standard Bank in Namibia," said chief executive officer Anthony Viljoen.
"This marks the start of a long-term financing partnership to continue the rapid development of the Uis tin mine to its full potential and growing our tech-metal revenue profile."
At 1014 GMT, shares in AfriTin Mining were down 0.88% at 5.06p.
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Andrada Mining reports further high-grade results from Lithium Ridge
(Sharecast News) - Andrada Mining said on Tuesday that further drill results from its Lithium Ridge project in Namibia had confirmed consistent high-g...
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(Sharecast News) - Andrada Mining said on Tuesday that a second batch of diamond drilling results from Lithium Ridge in Namibia had confirmed consiste...
Andrada Mining News
EARNINGS AND TRADING: Asia Strategic Holdings revenue declines
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Andrada Mining reports further high-grade results from Lithium Ridge
(Sharecast News) - Andrada Mining said on Tuesday that further drill results from its Lithium Ridge project in Namibia had confirmed consistent high-g...
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(Sharecast News) - Andrada Mining said on Tuesday that a second batch of diamond drilling results from Lithium Ridge in Namibia had confirmed consiste...
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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported...
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Andrada subsidiary UTMC extends offtake deal with Thaisarco
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