Published on 12th January 2012
Hambledon Mining announced that the European Bank for Reconstruction and Development (EBRD) has posted a Project Summary Document relating to a potential $15m debt facility along with an equity investment of $3m for Hambledon to develop the Sekisovskoye underground mining operation and other group projects. It is also proposed that EBRD will be issued with warrants to a value of US$2m. Final approval is expected to be received in the middle of quarter 1, 2012, and further updates will be announced to shareholders as soon as possible. The total amount of $20m is subject to exchange rate variation.