Aim-listed Kropz on October 20 made the second drawdown, of R75-million, on previously announced bridge loan facilities of R250-milllion with African Rainbow Capital (ARC) Fund.
The emerging African phosphate producer and developer announced in September that it had entered into new bridge loan facilities of R250-million with its major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein in South Africa.
The first drawdown on the loan for an amount of R155-million was made on September 18.