28.11.2016
Deutsche Rohstoff AG DE000A0XYG76
DGAP-News: Deutsche Rohstoff AG: Almonty finances Sangdong mine likely without dilution of shareholders
DGAP-News: Deutsche Rohstoff AG / Key word(s): Financing
Deutsche Rohstoff AG: Almonty finances Sangdong mine likely without dilution
of shareholders
28.11.2016 / 22:23
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Almonty finances Sangdong mine likely without dilution
of shareholders
Mannheim/Toronto. Almonty Industries announced today that it received a
letter of commitment from an industry participant with respect to the
funding of the equity component of the overall financing package needed to
bring the Sangdong Mine into production. It will be provided by an industry
participant by way of a loan financing. As a result, the mine would
essentially be 100% debt financed without dilution of shareholders.
In order to fulfill the prerequisites for the financing, Almonty repaid a C
$ 6.5 million loan from the Korean TaeguTec Ltd. that was due as at
December 31, 2016 early. TaeguTec subsequently released all security it
held over Sangdong.
Thomas Gutschlag, CEO of Deutsche Rohstoff, noted: "Our investment exposure
in Almonty represents by far our largest position in the metals and mining
industry. We believe that the company is on a very good track after today's
news. Despite the still challenging market environment, the management team
is consequently implementing its strategy to become the most important
producer of tungsten concentrate outside China."
Deutsche Rohstoff directly holds 12.58% of Almonty's share capital and in
addition two convertible bonds that will increase its stake to 19.58% in
case they will be fully exercised.
Mannheim, 28 November 2016
Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
[email protected]
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28.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
N1, 1 (Stadthaus), 3. Etage
68161 Mannheim
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: [email protected]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart, Tradegate Exchange; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News Service
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524955 28.11.2016
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