REG - Bens Creek Group PLC - Further drawdown of Working Capital Facility

Bens CreekAnnouncement

26/03/2024 11:30

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RNS Number : 3472I  Bens Creek Group PLC  26 March 2024

26 March 2024

Bens Creek Group plc

("Bens Creek" or the "Company")

 

Further drawdown of Working Capital Facility

 

Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in
North America supplying the steel industry, announces that, further to its
notifications released on 19 March 2024 and 6 March 2024, it has drawn down a
further $1.25 million (the "Drawdown") under the working capital facility in
place with Avani Resources Pte Ltd ("Avani"), the Company's largest
shareholder. The Drawdown is part of the discretionary component of the
working capital facility, as further described in the Company's announcement
released on 6 March 2024.

 

Following the Drawdown, the full $10.0 million has now been drawn down by Bens
Creek under the working capital facility. The funds are being utilised by the
Company to finance the working capital requirements of the Company's mining
projects and ahead of the delivery of coal commencing to Avani in April 2024
under the terms of the existing offtake agreement in place between Bens Creek
and Avani.

 

The full terms of the working capital facility are detailed in the Company's
announcement of 6 March 2024.

 

For further information please contact:

Bens Creek Group plc
                                                                                           +44
(0) 204 558 2300

Adam Wilson, CEO

Peter Shea, Chief of Staff

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)
               +44 (0) 203 328 5656

Nick Athanas / Nick Naylor / George Payne (Corporate Finance)

Kelly Gardiner / Guy McDougall (Sales and Corporate Broking)

 

WH Ireland Limited (Joint Broker)

Harry Ansell / Katy Mitchell
                                                                                 +44
(0) 207 220 1666

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