RSS

AT borrowing PHP 1.8 billion for Cebu copper mine

08 Jun

Atlas Consolidated Mining & Development Corp. (AT) is borrowing PHP 1.8 billion to finance the development of an ore source in its copper mine in Cebu.

Its board approved on June 4 the availment of the convertible loans. The loans, which are convertible into Atlas Mining shares, will have a 3-year tenor and will earn an interest rate of 4% per annum, payable semi-annually.

Stock Picks, Target Prices and Buy/Hold/Sell Recommendations! (size 728x90)

AT president Adrian Ramos said the proceeds would be used to develop the Carmen open pit in its Toledo copper-gold mine in Cebu where it is currently sourcing high-grade ore.

Advertisements
 
Leave a comment

Posted by on June 8, 2015 in AT, Corporate News, Stock Market

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: