Tiger Resources Limited
(ASX:TGS) has confirmed the first drawdown under the US$162.5 million facility.
The drawdown of the long-term finance facility with Taurus Mining Finance Fund and International Finance Corporation was completed on schedule on 29 January, with an initial amount of $133.2 million drawn.
The facility drawdown refinanced the previous secured debt facilities with Taurus and Gerald Metals SA, also providing expansion capital for a debottlenecking initiative at the Kipoi SXEW plant.
The first scheduled repayment of the debt principal is due on 31 January 2017.
Tiger Resources recorded a net loss of $7.31 million at 30 June 2015.
