(Alliance News) - Goldplat PLC on Tuesday said its subsidiary Gold Minerals Resources Ltd has amended and renewed a USD2 million uncommitted, on-demand, revolving pre-export loan facility with Scipion Active Trading Fund.
The gold producer said the loan facility is available for period of 360 days under the amended agreement, and the term can be extended, or the size increased, on mutual agreement of both parties.
The company explained that the loan facility will mainly be used as a working capital to support sourcing initiatives in West Africa and South America.
"We have built a strong relationship with Scipion over the last few years and we are pleased with the way the facility has evolved with Scipion's understanding of our business," said Goldplat Chief Executive Werner Klingenberg.
"This should specifically give us further flexibility in our dealings in West Africa and South America going forward," added Klingenberg.
Goldplat shares were trading 4.2% higher in London on Tuesday afternoon at 2.66 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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GoldPlat (GDP)