https://www.miningweekly.com

Bellzone shares suspended as final agreement on $4m loan not yet reached

22nd September 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Bellzone Mining on Monday announced that its shares would be suspended from trading on the Aim with immediate effect, as the company had not yet been able to reach agreement with China Sonangol International on the final satisfaction of all the conditions of the companies’ $4-million loan agreement. 

Bellzone and China Sonangol initially entered into the loan agreement on August 18, with Bellzone having been advanced $1.5-million under the agreement, to date.

However, Bellzone required a further advance of financing under the loan agreement, or another source of funds, early this week, to be able to continue operations.

“There can be no certainty that the required financing, either short or longer term, will be obtained,” the company said in a statement, adding that, in light of this uncertainty, the company’s shares had been suspended pending clarification of its financial position.

Bellzone is an explorer, operator and developer of iron, copper and nickel licences, including the Kalia and Sadeka projects, in Guinea.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.187 0.222s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: