Vatukoula Gold Mines PLC Update on Investment Agreement (3110B)
03 Mars 2014 - 8:02AM
UK Regulatory
TIDMVGM
RNS Number : 3110B
Vatukoula Gold Mines PLC
03 March 2014
3 March 2014
Vatukoula Gold Mines plc.
("Vatukoula", "VGM" or "the Company")
Update on Investment Agreement
Vatukoula Gold Mines plc, the AIM listed gold producer focused
on Fiji, provides an update on the investment agreement with
Zhongrun International Mining Co. Ltd ("Zhongrun") to provide US$
40 million of funding to implement the capital investment plan at
the Vatukoula Gold Mine previously announced on 12 August 2013.
As announced on the 5 November 2013 the US$ 20 million equity
component was completed. On the 31 January 2014 the Company
announced that the second tranche of the US$40 million was due to
be completed at the end of February 2014. The second tranche of the
investment agreement comprises of US$20 million secured loan
notes.
The Company has been informed by Zhongrun that it is waiting the
approval the State Administration of Foreign Exchange (SAFE) of the
People's Republic of China. Zhongrun have informed the Company that
it expects the clearance of these funds to be granted during the
month of March.
Enquiries:
Vatukoula Gold Mines plc Bell Pottinger
Daniel Thöle
David Paxton + 44 (0)20 7440 0643 Marcin Zydowicz + 44 (0)20 7861 3232
Kiran Morzaria
W.H. Ireland Limited
James Joyce
James Bavister + 44 (0)20 7220 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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