Tolu Minerals Secures 95 Million Papua New Guinean Kina Bank Facility; Shares Up 3%
MT Newswires Live
Sep 07
Tolu Minerals (ASX:TOK) accepted a 95 million Papua New Guinean Kina debt facility from Papua New Guinea-based National Banking, according to a Monday Australian bourse filing.
The facility is secured over the assets of Tolu and is subject to customary conditions, including registration of security, per the filing. It has a five-year term from drawdown and carries an interest rate of 9.6% per year.
The proceeds will fund the remaining capital works required to restart the Tolukuma gold mine, the mineral explorer said.
Its shares rose nearly 3% in recent trading on Monday.
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