Resolute Mining pays down revolving credit facility by $20 million

By Rebecca Melvin

Concord, N.H., June 9 – Resolute Mining Ltd. repaid $20 million in advance of the first scheduled debt payment under its revolving credit facility, according to an announcement.

The payment reduces the revolver to a balance of $130 million and provides the company flexibility to redraw funds to the $150 million facility threshold, up to its March 2023 maturity.

Resolute’s first scheduled debt repayment under its term loan facility is in September. It plans to repay all term loan obligations through the generation of operating cash flows. Additional free cash flow may also be applied to reduce the revolver as options to extend the maturity are assessed in accordance with the lending agreement.

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

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