Australia's West African Resources rises on getting $265 mln loan for Africa project

West African Resources

29/06/2023 03:15

** Shares of West African Resources Ltd  WAF.AX  rise as
much as 3.6% to A$0.865, set for best day since June 16, if
gains hold 
    ** Mining co says it has arranged a $265 mln loan facility
for the development of co's Kiaka gold project in West Africa 
    ** Co's shares hit highest level since June 21 
    ** Says co has mandated Sprott Resource Lending Corp and 
Coris Bank International SA to provide the loan facility 
    ** Says first drawdown of the loan facility expected in Q4
2023 
    ** Shares of co are down 28.9% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))