https://www.miningweekly.com

CuDeco halts trading as it waits on refinancing news

30th September 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Copper miner CuDeco has halted share trading as it finalises the refinancing of its China Minsheng Banking Corporation finance facilities.

Under the refinancing proposals being considered, the $4.9-million Facility B will be repaid by the end of October this year, while the $60-million Facility A will be repaid by the end of December 2017, in instalments.

Under the existing agreements, the repayment of $20-million from Facility A is due by the end of October, while the balances of the facilities are to be repaid by the end of January 2017.

CuDeco told shareholders on Friday that the company’s directors would be unable to sign the financial statements for the year ended June until approvals for the refinancing were received.

The company said that it was confident that the refinancing would be approved, based on its discussions with the bank, which was preparing the required documentation to give effect to the refinancing.

CuDeco in August delivered its first shipment of sulphide copper concentrate from the flagship Rocklands operation, near Cloncurry.

Edited by Creamer Media Reporter

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

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:0.072 0.109s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: