Brief: China Nonferrous Receives Notice From CNMC That Loan Provided To CNG Will Not Be Extended

China Nonferrous Gold

03/05/2024 09:04

May 3 (Reuters) - China Nonferrous Gold Ltd  CNGC.L :
    * CHINA NONFERROUS GOLD LTD: RECEIVED NOTICE FROM CNMC TRADE
THAT
LOAN IT HAD PROVIDED TO CNG OF US$19.50M DATED 12 JULY 2023 WILL
NOT BE EXTENDED
    * CHINA NONFERROUS GOLD LTD: CNMC TRADE DEMANDED THAT CNG
REPAY
NEW OUTSTANDING LOAN IMMEDIATELY WITHOUT DELAY
    * CHINA NONFERROUS GOLD LTD: CNMC TRADE HAS CONFIRMED IT
DOES NOT
INTEND TO PROVIDE ANY EXTENSION TO THIS TIMETABLE
    * CHINA NONFERROUS GOLD: DOES NOT HAVE SUFFICIENT CASH
AVAILABLE
TO PAY AMOUNTS REQUESTED
    * CHINA NONFERROUS GOLD LTD: DIRECTORS DO NOT BELIEVE CNG
HAS
ABILITY TO SOURCE ADDITIONAL FUNDS IN TIME FRAME SET OUT BY
DEMAND
    * CHINA NONFERROUS GOLD LTD: DIRECTORS ARE NOW LIAISING WITH
CNMC
TRADE TO DISCUSS WAY FORWARD

Source text for Eikon:  ID:nBw3fxycFa 
Further company coverage:  CNGC.L 

 ((Reuters.Briefs@thomsonreuters.com;))