CRATER GOLD MINING ANNOUNCES NEW $A0.75M LOAN FACILITY
WITH FREEFIRE
o The new $0.75M loan will provide funding to allow the purchase of additional
mining equipment and general working capital purposes
Crater Gold Mining Limited (ASX:CGN) (“Crater Gold” or the “Company” is pleased to announce
that it has executed a new loan agreement for $0.75M. The funding will be provided by way of a
loan facility from Company’s major shareholder, Freefire Technology Ltd (“Freefire”. The funding
is available at the option of the Company.
The Company plans to use the funds to complete the purchase of some additional mining
equipment which will increase productivity at the High Grade Zone ("HGZ") at the Crater Mountain
Project in Papua New Guinea. The loan will also provide working capital to continue mining
operations.
Key terms of the loan facility include an interest rate of 8% p.a. with the repayment of the facility to
occur one year after the date of the initial draw down on the facility. Subject to the prior consent
of ICBC Bank, a current lender to the Company, the loan will be senior secured.
CGN Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
is pleased to announce
