Liberian gold miner Aureus Mining (LON:AUE) has already used the US$10mln loan provided by South African banks Rand Merchant and Nedbank in its recent fund raise.
The new debt is repayable by end December 2017. The banks will also receive options over 20.4mln shares at 7p while RMB has had 11.1mln warrants re-issued.
Aureus raised a net US$11.5mln through an equity funding at 5p at the same time as the loan was arranged in November to make US$21.5mln in total. The money will be used to ramp up output from its New Liberty gold mine. READ MORE OF THIS STORY ON THIS LINK