Aim-listed Kropz has made the final drawdown of R52-million related to a bridge loan facility it secured with its major shareholder, African Rainbow Capital Fund, in December.
The full R115-million loan is meant to meet the immediate cash requirements of the Elandsfontein phosphate mine, in the Western Cape province of South Africa.
The company continues to experience delays in commissioning ramp-up of operations at the mine, which have led to funding shortfalls.