Rothschild Australia has agreed to let a subsidiary of Toronto-based Eden Roc Mineral (EDN-T) refinance an existing US$5-million revolving project loan.
Eden Roc was forced to seek the refinancing as a result of the recent suspension of gold production at its Ivory Coast operations. The refinancing enables the company to continue to explore and seek joint-venture partners on its properties there.
The refinancing will be in the form of a US$4.58-million convertible debt, plus an initial US$420,000 payment by Eden Roc. It is subject to the approval of regulatory authorities, shareholders and the completion of formal documentation. Marshall Minerals (mmc-t), which holds a 45% interest in Eden Roc, has indicated it favors the transaction.
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