Shanta Gold agrees drawdown of 30m dollar facility

Shanta Gold, an East African focused gold mining company, has signed and drawndown of a 30m dollar medium-term facility with FBN Bank.

Shanta Gold, an East African focused gold mining company, has signed and drawndown of a 30m dollar medium-term facility with FBN Bank.

The proceeds of the facility will be used in part to cover the remaining monthly principal repayments of the outstanding loans with FBN ($10.0m) and YA Global Master ($5.3m). It will also provide the company with cashflow generated by its gold sales provides Shanta Gold with appropriate cash headroom during the New Luika ramp up phase.

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