21 Nov 2014 11:45
21 November 2014
Beacon Hill Resources Plc / AIM: BHR / Sector: Mining
Beacon Hill Resources Plc ('Beacon Hill' or 'the Company')
Response to Share Price Increase
Beacon Hill notes the increase in the share price of the Company today.
The Board of Beacon Hill confirms as previously announced it remains in advanced negotiations with a Development Finance Institution ("DFI") in relation to a new senior debt facility.
Additionally, the Company continues to advance discussions with existing convertible loan note holders regarding a potential restructuring of up to US$15m in loan notes due for redemption between July 2015 to December 2016.
Beacon Hill reiterates that there is no certainty that these negotiations will lead to a transaction. The Company currently has sufficient working capital until the end of December 2014 and the Board of Beacon Hill is reviewing its financing options and may seek to raise additional working capital to ensure it remains adequately capitalised.
The Company will update the market with respect to any material developments in due course.
**ENDS**
For further information, please contact: | |
Beacon Hill Resources Plc | |
Justin Farr-Jones, Chairman (jfarr-jones@bhrplc.com) Rowan Karstel, Chief Executive Officer (rowan.karstel@bhrplc.com) | |
Canaccord Genuity Limited (Nominated Adviser and Broker) Neil Elliot / Tim Balston |
+44 20 7523 8000 |
St Brides Media & Finance Limited (Financial Public Relations) Susie Geliher / Elisabeth Cowell |
+44 20 7236 1177 |