Kropz secures R250m loan facility from ARC Fund
Kropz has reported that its subsidiary Kropz Elandsfontein and ARC Fund have agreed to a R250-million loan facility.
Kropz reports that its Elandsfontein operation, in South Africa, has seen improvements in production levels between the second and third quarters of this year.
However, Elandsfontein is still ramping up its operations and has yet to achieve break-even production levels and, therefore, requires additional working capital.
The loan extended by ARC Fund will be used by Elandsfontein to fund its cash flow and operational expenditure needs.
Source: Mining Weekly