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Kepo

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27/12/17

13:39

Post #: 29885360
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Originally posted by agentm ↑

Project Update and Working Capital Facility
Tigers Realm Coal (ASX: TIG) is pleased to provide an operational update and to report that it has completed a transaction to obtain a working capital loan from Sberbank (Russia).

Project Update
At Project F, the company has completed its planned works on pit infrastructure and the haulage road, and mining and coal haulage to the port has recommenced.
The haulage road construction re-commenced in the second half of October, and was completed in early December. These works were required to further improve trucking conditions during both the winter and the spring thaw. The work included the installation of remaining road-side and under road drainage; straightening, filling and and/or cutting of some sections to improve visibility and gradients; additional topping of some sections with gravel; and the installation of additional road markers and signs.
The Port transhipment operation for 2017 stopped in early November with 165 kt shipped. TIG’s first year of production and sales have met its strategic objectives with two trial cargos of semisoft coking coal sold into Japan and China, and thermal coal sold into China, Taiwan and some for the Chukotka regional market.

Working Capital Facility
TIG’s Russian subsidiary Beringpromugol has signed an agreement with the Moscow
branch of Sberbank to receive a Russian Rouble (RUB) denominated loan totalling
RUB600 million (US$10.3M). The purpose of the facility is to support TIG’s operating
and capital expenditure prior to next revenue from sales, expected in July 2018.
Key terms of the facility are as follows:
▪ drawdown from December 2017 through August 2018,
▪ repayment in instalments from August 2018, and
▪ covenants and security typical for this type of the facility.

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It looks good at first but actually it's neutral-to-nad news..

TIG Price at posting: 5.0¢ Sentiment: None Disclosure: Not Held
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