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Resolute Mining Ltd - gold miner with assets in Africa - Repays USD20 million in advance of its first required debt repayment obligation. Repayment reducing revolving credit facility to USD130 million and lowers borrowing costs. Says the facility also provides company with the flexibility to redraw funds to the USD150 million facility threshold until maturity in March 2023.
"The repayment strengthens Resolute's balance sheet and reduces our borrowing costs. The RCF provides us with flexibility to continue to repay debt ahead of maturities as we generate positive cashflows from operations and the potential realisation of funds from asset sales," says Chief Executive Stuart Gale.
Current stock price: 29.80 pence
Year-to-date change: down 37%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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