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Minco Silver Received Repayment of Loan from Changing Longxin Mining Co., Ltd
Minco Silver Received Repayment of Loan from Changing Longxin Mining Co., Ltd C...
About this update from Minco Silver Corporation
[{"type":"text","content":"\n \n \n \n Minco Silver Received Repayment of Loan from Changing Longxin Mining Co., Ltd\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 27, 2022\n \n \n /CNW/ -\n \n Minco Silver Corporation\n \n (the\n \n \"Company\"\n \n or\n \n \"Minco Silver\")\n \n (TSX: MSV) (OTCQX: MISVF) (WKN: A0ESX5) is pleased to announce that it has received a\n \n $5.9 million\n \n (\n \n RMB 31 million\n \n ) loan repayment from Changing Longxin Mining Co., Ltd (\"Longxin Mining\") in\n \n October 2022\n \n .\n \n \n The Company signed a loan agreement with Longxin Mining for a loan of\n \n $14.6 million\n \n (\n \n RMB 73.8 million\n \n ) in 2018 (the \"Note\"). The Note was secured by 100% equity interest in Longxin Mining and all assets of Longwanshang Gold Mine. In addition, the Note is guaranteed by both Longxin Mining's shareholders and a real estate company controlled by them, including land, real estate and cash security.\n \n \n The Note's matured in\n \n February 2019\n \n and was extended several times until\n \n June 30, 2021\n \n . However, Longxin Mining failed to repay the total outstanding amount on the agreement expiration date. The Company initiated a legal action to recover the outstanding Note principal and accrued interest. In\n \n November 2021\n \n , the Company received a favorable court verdict, ordering Longxin Mining and other related defendants must repay the Company's claimed amounts and the legal and court fee. Longxin Mining filed an appeal against the verdict in\n \n December 2021\n \n . In\n \n June 2022\n \n , the court made a final...