Announcement
Arakan Resources Limited
Arakan Resources Limited (Arakan) announces it has entered into a convertible
loan note with GRIT for $450,000 and bearing a 15% coupon.
The proceeds will be used for working capital and to begin the work on the
karekeche coal project in Kyrgyzstan, where Arakan will increase production
from the current 100,000 tons per year to 1,500,000 tons within 3 years.