Business
ANATOLIA CLOSES $25 MILLION CREDIT FACILITY
ANATOLIA CLOSES $25 MILLION CREDIT FACILITY
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Nov. 15 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") [TSX:ANO] today announces the Company, through two of its\n subsidiaries Anagold Madencilik Sanayi Ve Ticaret Anonim Sirketi ("Anagold") and Kurudere Madencilik A.Ş., entered into a $25 million three-year\n credit facility (the "Facility") with Standard Bank Plc ("Standard Bank"). The Facility is of a revolving nature during the initial year, with\n a term amortization over the remaining two years. Interest is payable\n on any outstanding borrowings at the one-month LIBOR rate plus 4.5%.\n The Facility is secured by a partial pledge of Anagold shares and a\n guarantee by the Corporation. Conditions precedent have been satisfied\n and first draw-down was made on the date of closing. The Facility is\n available for general corporate purposes of the borrowers.\n\n\nEdward Dowling, President and CEO of Anatolia commented, "An enormous\n amount of work has been accomplished at Çöpler and key production\n systems are currently being tested and commissioned. The current\n schedule shows the first gold pour will occur in mid-December; however,\n unanticipated events could push this important milestone into January.\n As such, and after reviewing a number of alternatives, the Company has\n closed a backstop financing facility with Standard Bank to ensure\n suf...