PERTH (miningweekly.com) – Gold miner Resolute Mining has repaid $20-million in debt in advance of its repayment schedule.
The company’s first scheduled repayment under its current term loan facility is in September, with Resolute on Wednesday telling shareholders that it was intent on repaying all its term loan obligations through operating cashflows.
The early repayment has reduced the company’s’ revolving credit facility balance to $130-million.
“This early repayment strengthens Resolute’s balance sheet and reduces ongoing borrowing costs. Our teams remain focused on improving operational performance with that cash generation,” said CEO Stuart Gale.
“The flexibility of the revolving credit facility then provides us with the option to continue repaying debt ahead of maturities with operating cashflow and proceeds from potential noncore asset sales.”