Apex Mining Co. Inc. (APX) has secured a $108 million omnibus loan and securities agreement (OLSA) with Philippine National Bank (PNB) and Bank of Commerce (BankCom). The loan will convert existing short-term borrowing from BankCom into a long-term loan and provide funds for the remaining installments of the 100% share acquisition of Asia Alliance Mining Resources Corp. (AAMRC). The agreement allows for annual draws in three tranches until 2026, with quarterly repayments over five years.
The OLSA is secured by AAMRC shares. In 2022, APX entered a share purchase agreement with AAMRC to acquire 1.9 million shares, representing 100% equity interest, for $71.5 million over four years. The acquisition encompasses all rights, title, and interest over copper mines and mining claims spanning 19,135 hectares across Davao de Oro. As of September 2024, APX had P1.44 billion in loans payable to PNB and P2.67 billion to BankCom. The company's consolidated net income for the first nine months of 2024 increased by 33% to P3.07 billion, while consolidated gross revenues rose by 24% to P10.84 billion. APX shares closed at P3.25 on Thursday, down 1.5% from the previous day
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Mining company's forest program overshoots planting targetsTHE United Kingdom-based metals exploration subsidiary FCF Minerals Corp. has planted more than 862 hectares as against the total of 276.33 hectares of disturbed area in Quezon town, Nueva Vizcaya, in compliance with its Mining Forest Program (MFP).
اقرأ أكثر »