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Avesoro Jersey extends another $8.5m loan to its subsidiary

12th December 2019

By: Marleny Arnoldi

Online News Editor

     

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Aim- and TSX-listed Avesoro Resources has entered into a loan agreement for up to $8.5-million with Avesoro Jersey Limited (AJL) to assist with the company’s near-term cash flow needs.

Avesoro intends to draw down the entire amount available under the new facility, which is to be repaid within 12 months.

Following the new drawdown, the balance of working capital loans provided by AJL to Avesoro to date is $55.7-million.

AJL owns and controls 97.9% of Avesoro’s common shares.

Avesoro owns the New Liberty gold mine, in Liberia, as well as the Youga gold mine, in Burkina Faso.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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