logo
powered-by-canningspurple
Navigation
logo powered-by-canningspurple
  • Insight
    • Diggers and dealers
    • Insights
  • Companies
    • Accelerate Resources
    • AOG Energy
    • Artemis Resources
    • BMG Resources
    • ChemX Materials
    • Core Lithium
    • Dreadnought
    • FBR
    • Finbar
    • Gold Road Resources
    • Infinite Green
    • Inside Diggers and Dealers
    • Jupiter Mines
    • Lykos Metals
    • Magnetite Mines
    • Mineral Resources
    • NextOre
    • Northern Star
    • NRW Holdings
    • Osteopore
    • Paydirt
    • Rox Resources
    • Sandfire
    • St George Mining
    • Sundance Resources
    • VRX Silica
    • Vysarn
  • Industries
    • Broking Firm
    • Clean energy
    • Cobalt
    • Copper
    • Gold
    • Graphite
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Water services
    • Zinc
  • Video
  • About
  • Contact
  • Subscribe

Home / Gold / Focus Minerals announces Shandong Gold Group has executed loan facility agreement

    • Au

Focus Minerals announces Shandong Gold Group has executed loan facility agreement

  • 14 October

West Australian gold explorer Focus Minerals (ASX: FML) today announced that the company and its major shareholder, Shandong Gold Group Co. Ltd (SD-Gold), have executed a loan facility agreement.


SD-Gold will provide an unsecured loan of A$20 million to Focus for project studies and general corporate purposes. The key terms of the Facility Agreement are as follows:

  • Term: 3 years, principal payable at the end of the term.

  • Interest: 3.5% per annum, payable quarterly in arrears.

  • Representations, warranties, undertakings and events of review / default: generally on common terms for unsecured loan agreements.

The provision of the loan by SD-Gold under the Facility Agreement has been approved by the State Administration of Foreign Exchange of the People’s Republic of China, and the funds will be available to the Company by the end of October 2020.

Commenting on signing the Facility Agreement, Focus’ CEO, Mr Zhaoya Wang said, “The cash injection will allow the Company to advance the Coolgardie Gold Project towards production by conducting a Definitive Feasibility Study while maintaining the pace on progressing the flagship Laverton Gold Project.”

Focus has treated the Facility Agreement as a related party transaction. The Independent Directors of Focus led the negotiation process with SD-Gold and consider that the transaction contemplated by the Facility Agreement has been concluded on arm’s length terms (or better) and, accordingly, shareholder approval is not required under Chapter 2E of the Corporations Act.

The Independent Directors unanimously approved entry into the Facility Agreement.

View full announcement

Peter Klinger

  • Contact

Share

  • LinkedIn
  • Twitter
  • Facebook

Most Read

  • 25 November

NRW unit Action Drill & Blast awarded Talison Lithium contract

    • Mining Services
  • 5 August

Core appoints new CEO

  • ASX: CXO
    • Li
    • Clean energy
  • 1 November

Nickel, cobalt anomalies at Sockovac; large new gold, copper anomalies at Sinjakovo

  • ASX:LYK
    • Ni
    • Cu

Related

NRW 2023 AGM
  • 29 November

NRW signs off on record FY23, upbeat on FY24

  • ASX: NWH
    • Mining Services
    • Broking Firm
  • 21 November

Northern Star drills more than 130,000m in FY24 to date to extend organic growth optionality

  • ASX: NST
    • Au
    • Broking Firm
  • 16 November

Northern Star releases AGM speeches

  • ASX: NST
    • Au
  • 26 October

Gold Road reports record September Quarter at Gruyere

  • ASX: GOR
    • Au
    • Broking Firm

NEWSLETTER

Get news, as it happens

Sign up to receive our weekly roundup, and releases of interest, as they happen.

  • This field is for validation purposes and should be left unchanged.
logo

Investor Insight, powered by Cannings Purple, delivers the stories that matter to the people who matter – across your preferred communications platform.

From breaking news to analysis, opportunities and thought leadership, Investor Insight is your window into some of Australia’s most exciting listed and non-listed companies.

  • Insight
    • Diggers and dealers
    • Insights
  • Companies
    • Accelerate Resources
    • AOG Energy
    • Artemis Resources
    • BMG Resources
    • ChemX Materials
    • Core Lithium
    • Dreadnought
    • FBR
    • Finbar
    • Gold Road Resources
    • Infinite Green
    • Inside Diggers and Dealers
    • Jupiter Mines
    • Lykos Metals
    • Magnetite Mines
    • Mineral Resources
    • NextOre
    • Northern Star
    • NRW Holdings
    • Osteopore
    • Paydirt
    • Rox Resources
    • Sandfire
    • St George Mining
    • Sundance Resources
    • VRX Silica
    • Vysarn
  • Industries
    • Broking Firm
    • Clean energy
    • Cobalt
    • Copper
    • Gold
    • Graphite
    • Insight
    • Iron ore
    • Lithium
    • Manganese
    • Mining Services
    • Nickel
    • Oil & Gas
    • Property
    • Rare Earths
    • Silica Sand
    • Technology
    • Uranium
    • Water services
    • Zinc
  • Video
powered-by-canningspurple
  • About
  • Contact
  • Subscribe
  • Cannings Purple
  • Privacy Policy
  • Disclaimer

Copyright 2023 Cannings Purple