Last checked at 27 Jan 2012 16:43
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Hambledon Mining plc ("Hambledon" or the "Company")
Potential investment by EBRD
27 January 2012
Further to the announcement made on 12 January 2012, Hambledon is pleased to announce that the European Bank for Reconstruction and Development ("EBRD") has advised the Company that final approval has been granted today by EBRD's operations committee for its potential US$15 million loan and equity investment of US$3 million for Hambledon to develop the Sekisovskoye underground mining operation. Final approval is subject to approval by EBRD's Board of directors who will meet in February 2012.
The EBRD Project Summary Document is set out on its website and can be accessed through the following link: http://www.ebrd.com/pages/project/psd/2012/42831.shtml. This web link will be updated by EBRD on 30 January 2012 to reflect the approval by the operations committee.
Tim Daffern, CEO of Hambledon commented:
"The Board of Hambledon is excited about the growth of the Company which will be enhanced by having the backing of a lender and investor of the stature of EBRD".
Enquiries;
HAMBLEDON MINING: Telephone +44 (0)207 233 1462Charles Zorab
FAIRFAX I.S. PLC (NOMAD AND BROKER): Telephone +44 (0)207 598 5368Ewan Leggat/Katy Birkin
TAVISTOCK COMMUNICATIONS: Telephone +44 (0)207 920 3150Ed Portman/Jos Simson
Copyright Business Wire 2012