Kropz makes second drawdown on bridge loan facilities

23rd October 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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Aim-listed Kropz on October 20 made the second drawdown, of R75-million, on previously announced bridge loan facilities of R250-milllion with African Rainbow Capital (ARC) Fund.

The emerging African phosphate producer and developer announced in September that it had entered into new bridge loan facilities of R250-million with its major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein in South Africa.

The first drawdown on the loan for an amount of R155-million was made on September 18. 

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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