Further advance to Ferrum Resources Limited

RNS Number : 5212N
Emerging Metals Limited
02 September 2011
 



For Immediate Release: 2 September 2011

 

Emerging Metals Limited

("EML" or the "Company")

 

Further advance to Ferrum Resources Limited ("Ferrum")

 

Further to the announcement made on 24 August 2011, the Company is pleased to announce a further $400,000 loan advance to Ferrum, its 37.23 per cent associate company, to meet its immediate cash requirements to fund its on-going exploration programme in Sierra Leone. The Company continues to explore options to fund the balance of Ferrum's short term cash requirements and a further announcement in this regard will be made in due course.

 

The loan is secured against assets of Ferrum and is (unless agreed otherwise in writing by the parties) repayable together with interest (charged at a rate of 10 per cent. per annum) on 10 January 2012.

 

 

-Ends-

 

For further information

 

Emerging Metals Limited

Religare Capital Markets (UK) Limited

Evolution Securities          Limited

GTH Communications

Denham Eke

Peter Trevelyan-Clark

Emily Staples

 

Romil Patel

Tim Redfern

Toby Hall

Christian Pickel

+44 (0)1624 639396

+44 (0)20 7444 0800

+44 (0)20 7071 4300

+44 (0) 20 3103 3902

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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