Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to announce that the Company has agreed on commercial terms with its financiers to extend its Revolving Credit facility (RCF) for an additional 12 months to March 2024, with an amended amortisation profile.
As part of extending the RCF, a review of the structure and tenure of the Group's debt facilities has also been undertaken. Under the refinancing agreed with syndicate lenders, the RCF maturity will be extended to the end of March 2024 (previously due in March 2023), with the following amended repayment schedule:
$30 million in August 2022 upon receipt of the third tranche of the Bibiani sale consideration;
$20 million in January 2023;
$20 million in March 2023 in line with the original RCF maturity date; and
the final $80 million in March 2024.
There are no changes to the $150 million Term Loan Facility, with amortisation remaining in line with the previous biannual repayment schedule (each March and September).
The refinancing is subject to conditions precedent that are customary for a refinancing of this nature.
Resolute's Chief Executive Officer, Mr Stuart Gale commented: "I would like to thank the lending syndicate who continue to demonstrate ongoing support to Resolute. I am confident the underlying financial performance of the business will continue to improve, with the aim to reduce gearing levels over the near term."
Resolute
James Virgo, GM Finance and Investor Relations contact@rml.com.au
Level 2, Australia Place, Perth, Western Australia 6000 T +61 8 9261 6100
E contact@rml.com.au
ASX/LSE:RSG I rml.com.au
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Resolute Mining Limited published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 01:32:01 UTC.
Resolute Mining Ltd is an Australia-based gold miner. The Company is engaged in exploring, developing, and operating gold mines. The Company owns two producing gold mines: the Syama Gold Mine in Mile (Syama) and the Mako Gold Mine in Senegal (Mako). The Syama is located in the southwest of Mali, approximately 30 kilometers (km) from the Cote dâIvoire border and 300 km southeast of the capital Bamako. It comprises the Syama Underground Mine, the Tabakoroni Complex, which comprises an open pit. The Mako Gold Mine is located in eastern Senegal, West Africa, which is an open pit mine. The Company is also involved in exploration with drilling campaigns underway across its African tenements with a focus on Mali, Senegal and Guinea. The Company also operates a fleet of development jumbos, production drills, loaders and trucks.
RESOLUTE MINING LIMITED 
