Resolute Mining repays additional $30 million on revolving facility

By Marisa Wong

Los Angeles, Sept. 10 – Resolute Mining Ltd. announced an early voluntary repayment of an additional $30 million on its revolving credit facility using proceeds from the sale of the Bibiani Gold Mine.

The paydown reduces the revolver balance to $100 million and brings Resolute’s total voluntary repayments in 2021 to $50 million, strengthening the balance sheet and reducing borrowing costs, according to a company press release.

Resolute still has the flexibility to redraw funds to the $150 million threshold, up until the revolver matures in March 2023.

Resolute’s first scheduled debt repayment under its term loan is at the end of September and is expected to be funded from cash flows.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.