Lucapa defers debt repayments
PERTH (miningweekly.com) – Diamond miner Lucapa has struck an agreement with its major financiers and shareholders Equigold and New Azilian, as well as the external financier for the Mothae project, the Industrial Development Corporation of South Africa, to defer some $13-million in loan repayments from 2020 and 2021, to 2022 and beyond.
MD Stephen Wetherall said on Friday that the amendments agreed by all financiers reflected an understanding of the current pandemic affected environment, and was evidence of the strong support for the company’s operations.
“The refinancing arrangement will give Lucapa and Mothae more flexibility to navigate the pandemic-affected diamond and investor markets and the support to continue driving the company’s strategy on its niche high-end operations and exciting exploration projects,” he added.
The amendments to the financing arrangements are subject to the execution of variations to the financing agreements, as well as relevant payments as required by the financiers.
The New Azilian amendment is also subject to Lucapa shareholder approval, as well as regulatory approvals or necessary waivers.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation