Zanaga Iron Ore Company Ltd Glencore Loan Update (2626Y)
02 Enero 2024 - 1:00AM
UK Regulatory
TIDMZIOC
RNS Number : 2626Y
Zanaga Iron Ore Company Ltd
29 December 2023
29 December 2023
Glencore Loan Update
Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM:
ZIOC), is pleased to confirm that the Company has agreed a loan
repayment extension with Glencore.
As a reminder, on 29 June 2022, Glencore and ZIOC entered into a
loan facility agreement (the Facility Agreement), under which a
loan would be provided directly to Jumelles Ltd by Glencore to
provide funding for ongoing working capital required to progress
initiatives at the Zanaga Project. The Facility Agreement provided
for funding of up to US$1.8m (the "Loan Facility"), repayable at 31
December 2023.
Today, Glencore and ZIOC have agreed to extend the repayment
date of the Loan Facility to 31 March 2024. ZIOC has already repaid
US$463k of the Loan Facility and had US$1.39m of the Loan Facility
outstanding (including accrued interest).
Clifford Elphick, Chairman of ZIOC commented:
"I am pleased to report that ZIOC has already partially repaid
the Glencore loan, and continues to receive the support of Glencore
going forward through the extension of the loan repayment date.
ZIOC is pleased with the ongoing progress being made in
advancing discussions with potential partners, and as part of
ZIOC's strategic objectives has already recently concluded an MoU
relating to power solutions for the Zanaga Project. We look forward
to progressing further strategic initiatives in early 2024."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR
The Zanaga Iron Ore Company Limited LEI number is
21380085XNXEX6NL6L23.
For further information, please contact:
Zanaga Iron Ore
Corporate Development and Andrew Trahar
Investor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser Scott Mathieson, Kane Collings
and Corporate Broker +44 20 3100 2000
About us:
Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is an iron
ore exploration and development company, with the Company's
flagship asset being its 100% owned Zanaga Iron Ore Project located
in the Republic of Congo, for which the Government Mining Licence,
Environmental Permit and Mining Convention are all in place.
A major Project update is underway to freshen historical studies
in light of changes in the world's economy and growing demand for
low-carbon steel production, for which the Zanaga resource is
highly suited, with the potential to become one of the largest
producers of high grade premium pellet feed iron ore.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDKLFLXLLBFBX
(END) Dow Jones Newswires
January 02, 2024 02:00 ET (07:00 GMT)
Zanaga Iron Ore (LSE:ZIOC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Zanaga Iron Ore (LSE:ZIOC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
