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KGL RESOURCES LIMITED — Capital/Financing Update 2011
Mar 9, 2011
65179_rns_2011-03-09_e9c475d8-4069-4063-b541-6a0ebc20c749.pdf
Capital/Financing Update
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----- Start of picture text ----- Kentor Gold LtdACN 082 658 080----- End of picture text -----
10 March 2011
Kentor Gold Limited (ASX: KGL) is an Australian-based company formed in 1998 as a specialist gold explorer. The Company was listed on the Australian Securities Exchange in 2005 and has diversified into exploration and development of gold, geothermal energy and base metals in Central Asia where it has highly regarded, established local management. Kentor Gold owns 80% of the Andash Gold-Copper Project which is under development in the Kyrgyz Republic and is targeted to produce annually 70,000 oz gold and 7,400 tonnes copper in concentrate.
Media Clarification
Kentor Gold Limited (“Kentor” or the “Company”) has noted the article in today’s Financial Review in regards to the provision of a debt facility for the Andash Gold-Copper Project.
Kentor announced on 4 October 2010 that it had mandated Macquarie Bank Limited (“Macquarie”) to arrange US$50M in debt finance towards the construction of the Andash Project. The Company is currently negotiating the terms of a Committed Letter of Offer for the finance facility with Macquarie. When those terms are finalised and agreed and the board of directors of Kentor has approved the final agreement, Kentor will provide confirmation to the market.
Additionally, Kentor advises that a final report is still to be received from the Kyrgyz Government Commission of Enquiry into the Andash Project. The report from the Enquiry was expected to be finalised on 1 March 2011 but is yet to be issued. Kentor will advise the findings of the report as soon as it is received.
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For further information contact:
Issued capital:
1,061.6 million ordinary shares 59.6 million unlisted options
Market Capitalisation
Mr Simon Milroy Managing Director Phone: (07) 3121 3206 Email: [email protected]
(9 Mar. 2011): $170 million