Mining Weekly

JOHANNESBURG (miningweekly.com) – Responding to a jump in its share price, Beacon Hill reiterated on Friday that it remained in advanced negotiations with an unnamed development finance institution in relation to a new senior debt facility.

The commodity producer’s shares on the LSE were trading up 5.8% at 0.09p on Friday afternoon, after closing at 0.08p on Thursday.

Additionally, the company continued to advance discussions with existing convertible loan note holders regarding a potential restructuring of up to $15-million in loan notes due for redemption between July 2015 and 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 and the board is reviewing its financing options and may seek to raise additional working capital to ensure it remains adequately capitalised,” it said in a statement to the market.