The US$15 million Bridge Facility with Taurus is fully drawn with the second tranche of US$7.5 million drawn on 22 July 2022. This facility is due for repayment in May 2023 and Kingsgate has had discussions with Taurus to extend the maturity date of the facility for up to six months.
In addition, Kingsgate is finalising a term sheet with a syndicate of Thai Banks for a working capital facility of US$15-20 million to provide funding for the refurbishment of Plant #1 and general working capital.
The Thai Bank syndicate are also considering the provision of a Project Facility of circa US$15-20 million.
KCN Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
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