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Kropz makes drawdown on bridge loan facility

6th October 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

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Aim-listed Kropz has made the first drawdown of R60.5-million on a September loan from the Africa Rainbow Capital (ARC) Fund.

The emerging African phosphate producer and developer announced on September 30 that it had entered into a new bridge loan facility of R126-million with its major shareholder, the ARC Fund, to meet immediate cash requirements owing to delays in the ramp-up of operations at its Elandsfontein mine.

Kropz and ARC Fund are currently working on a comprehensive funding structure to finance any further Kropz funding requirements.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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