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BCD announces interim project funding deal

11th November 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Gold firm BCD Resources has entered into an agreement with Eclectic Investments – a company related to its chairperson Clive Carroll – for interim project funding.

The credit facility, which will be drawn down in tranches, is for a committed provision of $1-million and an additional standby facility of $500 000. Drawn facilities are due for repayment by June 30, 2014.

BCD said in a statement on Monday that it would use the funds drawn under the facility for its Stormont joint venture (JV) project, in Tasmania, and for the provision of the purchase of capital equipment for the Lorena JV gold project, in Queensland.

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