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ORA BANDA MINING LTD — Capital/Financing Update 2017
Mar 9, 2017
65475_rns_2017-03-09_ce462637-90e5-4e7a-91be-4f9bc2a92b57.pdf
Capital/Financing Update
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10 MARCH 2017
DRAW DOWN FROM INVESTEC FACILITY
Eastern Goldfields Limited (ASX: EGS) ( Eastern Goldfields or the Company ) is pleased to confirm that, as a result of taking advantage of a spike in the AUD gold price to lock in the mandatory 20,000 ounces of forward sales at approximately 1636 AUD/oz. (see ASX announcement of 27 February 2017), it has now drawn down the $15,000,000 revolving loan facility from Investec Australia Limited.
The funds will be used for the refurbishment of the Davyhurst Gold Mine, which is now being commissioned in stages, with overall completion expected during April 2017.
Investor and media enquiries:
BOARD OF DIRECTORS
Mr Michael Fotios Executive Chairman
Mr Craig Readhead Non-Executive Director
Mr Alan Still Non-Executive Director
Michael Fotios Executive Chairman T: +61 8 6241 1888 E:[email protected]
Jon Snowball FTI Consulting T: +61 477 946 068 E: [email protected]
Ms Shannon Coates Company Secretary
ISSUED CAPITAL
Shares: 493m Options: 56.1m Current Share Price: $0.31 Market Capitalisation: $152m Cash as at 31/12/2016: $264,000