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Regency Mines raises £250,000 to explore Sudan project

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Regency Mines (LON:RGM) this afternoon announced the issue of a £250,000 loan note to Yorkville Advisors’ YA Global Masters fund.

The loan carries interest of 10% per year and can be converted into shares, at Yorkville’s option until September 2014.

The AIM quoted group says the money will be used to fund exploration on its potash project in Sudan, as well as for working capital.

 

Regency also confirmed that a vote will be held by Ram Resources shareholders on October 8 over the Aussie miner’s proposed acquisition of Regency’s interest in the Fraser Range project.

Quick facts: Regency Mines PLC

Price: 0.0375 GBX

LSE:RGM
Market: LSE
Market Cap: £568.84 k
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Regency Mines putting foundations in place for 'development and value'

Regency Mines PLC's (LON:RGM) Scott Kaintz and Ewen Ainsworth join Proactive's Andrew Scott in the London studio to discuss the recent refinancing of the firm's debt facility as well as the findings of the strategic review. Regency's refinanced US$1.254mln worth of loan notes through to July...

on 1/8/19

2 min read