John, another one
With today's announcement of financing, Anatolia's Çöpler mine in Turkey should be coming into production in the second half of 2008.
Anatolia Mandates Lead Arranger for Senior Project Financing of Copler Gold Project
Mon Sep 24, 9:32 AM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - Sept. 24, 2007) - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX: ANO.TO) is pleased to announce Bayerische Hypo- und Vereinsbank AG, a member of UniCredit Group ("UniCredit"), has been mandated to act as lead arranger and underwriter for a US$50 million senior project debt facility (the "Facility") to help fund development of the Copler Gold Project ("Copler").
The Facility is subject to documentation, further due diligence, final credit approval and a series of conditions precedent prior to drawdown. The Facility does not include any hedging requirements. Subject to the preceding conditions, management expects funds will be available for drawdown in Q1 2008. The Company has sufficient working capital to fund development prior to the availability of the Facility.
Richard C. Moores, President of Anatolia, stated: "We are very pleased to enter into this relationship with UniCredit. This Facility strengthens Anatolia's ability to develop Copler without restricting our aggressive exploration programs. We are now in a position to proceed with confidence and take advantage of new opportunities as they come. The quality of our Copler project and the strength of our balance sheet allowed us to achieve favorable terms, including no hedging requirement."
UniCredit Group is the second largest bank in the Eurozone by market capitalization, taking into account the acquisition of Capitalia (pro forma). It has a regional presence in 17 CEE countries, including Turkey, where UniCredit is one of the leading banks after having combined Koc Bank and Yapi ve Kredi Bankasi. Bayerische Hypo- und Vereinsbank AG, now part of UniCredit Group, has been a leading financial institution in the mining and metals sector for 20 years - catering to the needs of its diverse and broad client base with highly experienced industry specialists and regional coverage.
Anatolia currently has 82.9 million common shares issued and outstanding, 98.5 million fully diluted. Anatolia trades on the Toronto Stock Exchange as ANO.
This news release may contain forward-looking statements in respect of various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Richard C. Moores
Anatolia Minerals Development Limited
President
(303) 670-9945
(303) 670-9947 (FAX)
Douglas Tobler
Anatolia Minerals Development Limited
Chief Financial Officer
(303) 292-1299
(303) 297-0538 (FAX)
Website: www.anatoliaminerals.com |
