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Troy repays its debt

1st October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Troy Resources has fully repaid its long-standing $71.57-million Investec Bank debt facility, making Troy fully bank debt free.

“We are delighted to make this final payment to Investec such that the facility is now repaid in full in what represents a very significant milestone for the company,” said Troy MD Ken Nilsson.

“In what at times were difficult circumstances, Investec could not have been more supportive. For that, Troy is most grateful.”

The debt facility was initially entered into in 2014 and was used to repay and replace a previous facility, and to fund the development of Troy’s Karouni project, in Guyana.

“It is great to now be in a position where Troy’s free cash flow can be applied to matters other than debt repayments, as we seek to restore the company to its previous highly-successful dividend paying status,” Nilsson said.

Edited by Creamer Media Reporter

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