Business
Repayment of debt
Repayment of debt.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n \nRNS Number : 0046Z Griffin Mining Ld 12 December 2017 \n\n \n \n8th Floor, 54 Jermyn Street, London, SW1Y 6LX. United Kingdom\nTelephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773\nE mail: [email protected]\n \nGriffin Mining Group Totally Debt Free\n \n12Th December 2017\nGriffin Mining Limited (\"Griffin\" or the \"Company\") is pleased to announce that its Chinese subsidiary, Hebei Hua Ao Mining Industry Company limited (\"Hebei Hua Ao\"), having incurred approximately $67 million in debt over the past number of years for plant upgrades and mine development, has now repaid all outstanding bank loans, including $44.7 million repaid during 2017. The Company and its subsidiaries are now debt free.\nChairman's Comment\nMladen Ninkov the Chairman of Griffin Mining commented, \"I am delighted that the Griffin Mining group of companies are now totally debt free and generating significant free cash, with infrastructure built and ready to double production as soon as the new mining licence over Zone II is granted. The financial benefits the current commodity prices are allowing will be even more extraordinary once this licence is in place. I couldn't be happier for everyone involved with the Company.\" \n \n \n \n \nFurther information\n \nGriffin Mining Limited\nMladen Ninkov - Chairman Telephone: +44(0)20 7629 7772\nRoger Goodwin - Finance Director\n \nPanmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500\n Dominic Morley\n \n \n \nGriffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM).\nThe Company's news releases are available on the Company's web site: www.griffinmining.com\n\nThis information is provided by RNSThe company news service from the London Sto...