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AVIRA RESOURCES LTD — Capital/Financing Update 2014
Nov 10, 2014
64473_rns_2014-11-10_fff2d233-5a22-4d68-bb63-f91e4e13f0d6.pdf
Capital/Financing Update
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MGT MINING LIMITED ENTERS INTO A $250,000 LINE OF CREDIT
ASX Release
11 November 2014
ASX CODE
MGS
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MGT Mining Limited, 89.48% subsidiary of MGT Resources Limited, announces that it has entered into a $250,000 line of credit with Mr Jonathan Paul Back, Chairman and Managing Director of MGT Resources Limited.
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MGT Mining Limited has entered into this line of credit to ensure that the Company remains well-funded during the period when further third party funding is being secured.
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This redraw facility is available until the earlier of the date on which further funding is secured and 31 December 2014.
REGISTRY
Computershare
SHARES ON ISSUE
288,157,040
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The facility is unsecured and allows MGT Mining Limited to repay any drawn down funds at any time during the availability period.
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The interest costs of the facility are 8% per annum.
Tin Price: US$20,050/t
MGT Resources Limited 2.05/68 York Street Sydney NSW 2000 Australia
T: 61 2 9262 1122 F: 61 2 9299 5175 www.mgt.net.au [email protected]
ABN: 38 131 715 645