Welcome to Refwin.com, Join Free  |  Sign In Home  Inquiry   Contact   Mobile   Free E-Weekly News   中文站
Directory Price Market Buy News Conference Dictionary
I want to search:          
Home >>News 
Triton Mineral: Jinan Hi-Tech agrees to additional interim funding of $2.7 million
2019-11-12

Nov. 12, 2019 - Triton Minerals Limited (ASX: TON, Triton or Company) is pleased to advise that Jinan Hi-Tech (“JHT”), a major Shandong based state owned enterprise (“SOE”) has approved, a second interim debt funding arrangement of $2.7 million, available immediately. This is in addition to the interim funding arrangement of $2 million announced on 9 July 2019. This second interim loan will provide the Company with funding to meet the financial guarantee requirements of the Mozambique mining regulations to commence construction of the Ancuabe Graphite Project. 


Key Terms of the Interim Funding 


The interim debt funding arrangement has been facilitated with an Australian associate company of JHT, Shandong Tianye Group Bid Co Pty Limited, an Australian entity associated with Shandong Tianye Mining Co. Ltd. The loan is unsecured, with an annual interest rate of 11% that is accrued monthly. The interest will be paid at the time when the principal is repaid. 

Related Reading
Triton Minerals: Chinese NDRC approval   2019-10-15
Triton receives mining approval for Ancuabe graphite project   2019-05-06
Triton Minerals signs MOU for the development of Ancuabe graphite project   2019-03-18
Graphite developer Triton Minerals gets provisional enviro licence   2018-06-21
Triton Minerals to accelerate Ancuabe premium flake graphite project   2016-03-02
Triton Minerals graphite portfolio advances strongly as funding nears   2016-01-14

X
Online Service