ASEC In Talks Over $20 Mln Loan From Citadel Capital

ASEC Company for Mining – Ascom – (ASCM.CA) BOD decided to conduct talks with Citadel Capital (CCAP.CA) and one of its affiliates over $ 20 million loan for 10 years and 6 % annual interest rate.

An official source in Ascom asserted that, company’s OGM decision to start talks is just an initial approval, adding that there are no material steps towards this step.

He added that, such approval came in the framework of financing company’s investment plan which based upon completing water proof plant in Sadat City.

This was according to Alborsa newspaper.