https://www.miningweekly.com

Kingsgate reduces debt ahead of Chatree stop

8th December 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed gold miner Kingsgate Consolidated expects to reduce its total debt position to about A$13-million by the end of the month.

The miner said on Thursday that a discretionary payment of $5.2-million had been made against the Chatree loan facility, and a further discretionary payment of $5-million will be made on December 9. This would take the group’s total debt position to A$13-million, down from the A$72-million at the end of September.

The Chatree-related debt would be fully repaid before the end of December, Kingsgate stated.

Production from the Chatree mine, in Thailand, is expected to cease this month, as the project’s metallurgical licence is expiring.

Edited by Creamer Media Reporter

Comments

Latest News

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.232 0.269s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: