18 May 2004 07:42
POLYMETAL SUBSIDIARY RAISES $10 MLN
MOSCOW. May 18 (Interfax) - Okhotskaya Mining and Geological Company, a subsidiary of St. Petersburg-based precious
metals corporation Polymetal, has received a $10 million loan from the Amsterdam Trade Bank, the company reported.
The loan will refinance current company payables, Polymetal told Interfax. ZAO Northern Urals Gold will guarantee the
loan.
Okhotskaya Mining and Geological Company announced it had placed 80% of earlier issued common shares through private
subscription. The issue volume totaled 25,740 shares with par value of 100 rubles and the company placed 20,592 shares.
The share issue was carreid out to replace payables, Polymetal said.
The Polymetal subsidiary produces gold and silver at the Khakanja and Yuryevskoye deposits in Khabarovsk.
[Interfax] |
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