General Moly signs agreement with Hanlong to extend maturity date of USD10m bridge loan
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- Category: Molybdenum's News
- Published on 07 April 2013
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General Moly Inc (NYSE MKT:GMO) (TSX:GMO), a US molybdenum mineral mining company, signed an agreement with Hanlong (USA) Mining (Hanlong) to amend their bridge loan agreement with an extension to the maturity date of its outstanding USD10m bridge loan from 30 April 2013 to 16 November 2013.
The new maturity date corresponds to the deadline for Hanlong's obligation to procure the USD665m Chinese sourced term loan and will provide the company with greater financial flexibility in the interim. Both parties agreed to the expiry of the second USD10m tranche of the original USD20m bridge loan facility as of 31 March 2013.
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