Endeavour Loan Extension
(Thomson Reuters ONE) - 20 October 2009 - London: European Nickel PLC ("European Nickel" orthe "Company") (AIM, PLUS: ENK) announces that, on 19 October 2009,it mutually agreed with Endeavour Financial Corporation ("Endeavour")to extend the Bridge Loan Facility Agreement, announced on 27 July2009, to 30 November 2009 whilst the Company finalises its longerterm funding requirements.Following the formal approval by the Board of Jiangxi Rare Earth andRare Metals Tungsten Group Company Limited ("JXTC") in late July,JXTC has been advancing the Jiangxi Provincial Government's approvalprocess for the US$20 million overseas investment in the ÿaldagproject through the various government departments. The project debtfinancing is also proceeding well as China Tianchen EngineeringCorporation has now submitted the application for credit guaranteeinsurance to the Government backed export credit agency providing thecover for the debt facility, which is now being processed. EuropeanNickel expects to provide further detail to shareholders in duecourse.Endeavour is acting as financial adviser to the Company on theChinese debt financing.For more information, please visit www.enickel.co.uk or contact:Simon Purkiss or Andrew Lindsay, European NickelTel: +44 20 7290 3130Mike Jones or Andrew Chubb, Canaccord AdamsTel: +44 20 7050 6500Alex Buck, BuckBiasTel: +44 7932 740 452---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 20.10.2009 - 08:02 Uhr
Sprache: Deutsch
News-ID 7099
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