Resolute Mining reaches agreement to extend and amend credit facility

By Mary-Katherine Stinson

Lexington, Ky., March 10 – Resolute Mining Ltd. agreed on commercial terms with its financiers to extend its credit facility and amend its amortization profile and repayment schedule, according to a company press release.

The credit facility has been extended for an additional 12 months to March 2024 from the original maturity date of March 2023.

In addition, the repayment schedule will now be A$30 million due August 2022 upon receipt of the third tranche of the Bibiani sale consideration, A$20 million due in January 2023, A$20 million due in March 2023 on the original maturity date and a final A$80 million due March 2024.

The company stated that there are no changes to the A$150 million term loan facility with the amortization in line with previous biannual repayment schedule each March and September.

Resolute Mining is a developer of gold projects based in Perth, Western Australia.

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