Ann: Market Update on KBL Debt, page-18

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Kidman brushes off KBL hopes to restructure debt

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Kidman brushes off KBL hopes to restructure debt

14TH NOVEMBER 2014    BY: ESMARIE SWANEPOEL
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PERTH (miningweekly.com) – ASX-listed Kidman Resourceshas rebuffed a proposal by fellow-listed KBL Mining to restructure some A$12.6-million in debt, saying on Friday that the debt repayment would remain due by March next year.
Earlier this week, Kidman Resources became a major shareholder and the owner of fellow-listed KBL’s principal secured loan facility, taking over some debt owed by KBL to shareholder Capri Trading.
The debt was secured against all of KBL’s assets, including its operating Mineral Hill base metals mine, in New South Wales, and its Sorby Hills lead/silver deposit, in Western Australia.
KBL said at the time of the debt transfer that Kidman’s opportunistic acquisition of the Capri debt was a further demonstration of the significance of KBL’sresources at its Mineral Hill mine.