Asian Mineral Resources Limited (ASN.V) today announced that its 90% owned subsidiary, Ban Phuc Nickel Mines LLC is currently in advanced negotiations with Lien Viet Post Bank (LVPB) on the provision of a US$20 million project financing loan for its Ban Phuc Nickel Project. As part of this proposal, and pending final credit approval of the Project Debt, LVPB has granted an initial US$11 million loan to BPNM secured by cash collateral from AMR's existing cash resources. The Initial Loan allows expenditure to bring the Ban Phuc Nickel Project into production to continue uninterrupted.
Asian Mineral is up half a cent from a yr low, to 3.5 cents in early trade.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
