Business
Agreement on Credit Facility
Agreement on Credit Facility.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n Anglo Asian Mining PLC\n24 September 2007\n\n\n\n24 September 2007\n\n\n\n ANGLO ASIAN MINING PLC\n\n ('Anglo Asian' or 'the Company')\n\n\n\n AGREEMENT ON CREDIT FACILITY\n\n\n\nAnglo Asian Mining PLC (AIM: AAZ) the gold and copper development company with\nprojects in Azerbaijan is pleased to announce that the International Bank of\nAzerbaijan ('IBA') has agreed to establish an unsecured US$5 million credit\nfacility for the Company's operational subsidiary .\n\n\nFunds provided under this credit facility will be available on 1 October 2007\nand they are being provided to assist in the development of the Company's\nGedabek copper and gold project in Western Azerbaijan. The credit facility is\nrepayable after three years and carries an interest rate of up to 15%.\n\n\nThe IBA has also confirmed that it is willing to entertain providing further\nloans to advance the development of Gedabek.\n\n\nA full update on the Company's progress on all matters will be provided on\nFriday 28 September along with the interim results\n\n\n\n\n-Ends-\n\n\nFor further details, please contact:\n\n\nAnglo Asian Mining PLC Gordon Lewis, Chief Executive +994 12 499 3350\n Richard Round, Finance Director +44 1525 211988\n\n\nNumis Securities Limited John Harrison +44 20 7260 1000\n\n\nParkgreen Communications Justine Howarth +44 20 7851 7480\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]