Sydney, July 1, 2015 AEST (ABN Newswire) - Kimberley Diamonds Ltd (ASX:KDL) announced that it has received the first AUD$5 million under the terms of a loan agreement entered into with a third party lender, Zhejiang Huitong Auction Co Ltd. Under the terms of the Loan Agreement, Zhejiang has agreed to provide KDL with a total loan of AUD$10 million, with KDL to receive a further AUD$5 million this month. The funds will be applied to the re-commissioning of KDL's Lerala Diamond Mine in Botswana.
Sundance Resources Ltd (ASX:SDL) announced that significant progress has been made in seeking financing for their Iron Ore Project located in the Republic of Cameroon and the Republic of Congo. The Government of the Republic of Cameroon has agreed to seek to fund 100% of the capital requirement for the rail and port infrastructure in Cameroon via a loan from China and possibly other friendly countries. Sundance is confident that this funding for the infrastructure will be obtained by the Cameroon Government and this will allow the Company to concentrate on the development of the Mbarga and Nabeba mines.
Birimian Gold Ltd (ASX:BGS) has said that it has received final analytical results from drilling at the Massigui Gold Project in southern Mali. These new results confirm the presence of extensive shallow gold mineralisation at Viper and Koting Prospects and support the potential to define shallow gold resources amenable to open pit mining within the Project.