Tag Archive 'Investec'

Apr 21 2009

Investec: One down, one to go

Published by under Companies,More News

Investec Bank can breathe out: The LSE-listed gold mining company Central African Gold (CAG) found the capital it needed to service its debt with the bank. 

The proposed plan to raise about $8 million by placing new shares was approved at an extraordinary meeting of shareholders yesterday. Read the full report here

Before the placement of new shares, Investec Asset Management held 13.5% in CAG and Investec had an outstanding loan capped at $5 million.   

Now only Orsu has Investec by the short & curlies. At the time of writing, Investec and Orsu still haven’t found a way out of the debt repayment impasse.

No responses yet

Apr 02 2009

Orsu defaults on Investec, Nedbank debt

Published by under Companies,Top Stories

Orsu Metals Corporation, a London-based mining company with operations in Kazakhstan, missed its second deadline for debt repayment to a consortium of South African and French banks on 31 March.

Today the company said attempts to have the debt rescheduled have been unsuccessful, but negotiations with the banks continue.    [Read on]

No responses yet