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The latest announcement is out from Jinchuan Group International Resources Co. Ltd ( (HK:2362) ).
Jinchuan Group International Resources Co. Ltd announced that its wholly-owned subsidiary, Metorex (Proprietary) Limited, has entered into a loan agreement with a bank for a revolving loan facility of up to US$17 million for 12 months. This loan is intended to support the working capital needs of Metorex and its subsidiaries. The agreement stipulates that Jinchuan Group Co., Ltd., the controlling shareholder, must maintain control over the borrower, with any breach potentially leading to loan termination or immediate repayment demands. The company also noted ongoing trading suspension in its shares due to previous delays in financial disclosures.
More about Jinchuan Group International Resources Co. Ltd
Jinchuan Group International Resources Co. Ltd is a company incorporated in the Cayman Islands, primarily involved in the resources sector. Its operations include the management and development of mining assets, with a focus on leveraging its market position in the industry.
Technical Sentiment Signal: Hold
Current Market Cap: HK$8.4B
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