Amedeo Resources PLC Loan facility provided to MGR Resources Pte Ltd (9390T)
11 Gennaio 2017 - 4:13PM
UK Regulatory
TIDMAMED
RNS Number : 9390T
Amedeo Resources PLC
11 January 2017
11 January 2017
Amedeo Resources PLC ("Amedeo")
Loan facility of US$800,000 provided to MGR Resources Pte Ltd
("MGR")
Amedeo has made available to MGR Resources Pte ("MGR") a loan
facility of US$800,000. The facility bears interest at 10% per
annum and is intended to be used for working capital. The iron ore
price has been rising since its lows (around US$38 per tonne) at
the end of 2015 and now is over US$70 per tonne. This rise has led
to increasing opportunities in the iron ore market which MGR
intends to take advantage of. MGR has an existing US$400,000 loan
from Amedeo.
ENDS
For further information please visit www.amedeoresources.com or
contact:
Enquiries:
Glen Lau Zafar Karim
Chief Executive Officer Executive Director
Amedeo Resources PLC Amedeo Resources PLC
Tel office: +44 20 7583 8304 Tel office: +44 20 7583 8304
Paul Shackleton Elliott Hance
Nominated Adviser & Broker Joint Broker
WH Ireland Beaufort Securities Limited
Tel office: +44 113 394 6600 Tel office: +44 20 7382 8300
Notes
Amedeo Resources PLC is an investment company whose policy is to
invest principally, but not exclusively, in the resources and
resources infrastructure and asset sectors. Amedeo has a deep and
broad global network and wide contact base in these sectors,
including in East and South East Asia and the Middle East which it
leverages to source and make investments. These sectors exhibit
high growth and are strategically important. Amedeo is a proactive
investor which assists its investee companies to grow by providing
investment, expertise and contacts.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 11, 2017 10:13 ET (15:13 GMT)
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