REG - Gunsynd PLC - Pacific Nickel Update

GunsyndAnnouncement

15/06/2022 14:00

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RNS Number : 0088P  Gunsynd PLC  15 June 2022

15 June 2022

Gunsynd PLC

("Gunsynd" or the "Company")

Offtake & Project Debt Mandate Awarded to Glencore for the Kolosori
Project

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee
company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on
ASX (ASX: PNM).

Pacific Nickel has entered into a non-binding indicative term sheet with
Glencore for a 3-year, US$22 million Pre-Export Finance Facility and a 4-year
offtake arrangement for all of Kolosori's production which can be extended by
a further 2 years by mutual agreement.

The proposed debt facility will cover a substantial portion of the
pre-production investment required to develop the Kolosori Project.

It is envisioned that the US$22 million debt facility will comprise a US$17
million construction tranche and a US$5 million reserve tranche.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

For further information please contact:

 

The Directors of Gunsynd accept responsibility for this announcement.

For further information, please contact:

 Gunsynd plc                   +44 20 7440 0640

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 20 7213 0880

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 20 7469 0930

 Lucy Williams

 

 

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