KARARA PROJECT FUNDING U PD ATE Gindalbie Metals Limited (ASX: GBG – “Gindalbie”) provide s the following update on funding arrangements for Karara Mining Limited ( ‘ KML ’ ) (Ansteel: 52.16%; Gindalbie: 47.84%) . New Bank Loan Facility KML has executed documentation with China Development Bank ( ‘ C DB ’ ) and Bank of China (‘BOC’) to provide a l oan f acility for an additional US $ 400 million on terms consistent with KML’s existing bilateral loan facilities for a period of three years (maturing in August 2017) . The new loan facility provides KML with additional working capital support. Final steps for satisfaction of conditions prec edent were completed today along with an initial drawdown of US $ 100 million. The new loan f acility affirms the strong ongoing support KML has received from existing relationship banks , together with the continued commitment of its shareholders Ansteel and Gindalbie
GBG Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
