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LONDON - Kropz Plc (AIM:KRPZ), an emerging African phosphate producer, has completed the third and final drawdown of a ZAR 130 million (approximately US$ 6.7 million) bridge loan facility today. This drawdown of ZAR 50 million marks the full utilization of the loan agreed upon by Kropz Elandsfontein (Pty) Ltd and ARC Fund, as announced on May 21, 2025.
The loan facility is part of the company’s financing strategy as it continues to develop its phosphate production and development projects in South Africa and the Republic of Congo. Kropz’s vision is to become a leading independent phosphate rock producer and to develop into an integrated mine-to-market plant nutrient company, with a focus on sub-Saharan Africa.
The full drawdown of the bridge loan indicates that Kropz is moving forward with its development plans. The financial details of the loan, such as the terms of repayment and interest rates, have not been disclosed in the press release.
This financial move comes at a time when the global demand for phosphate, a key ingredient in fertilizers, is on the rise due to the increasing need for food production. Phosphate rock is a primary source for phosphorus, one of the three main nutrients in fertilizers, which is essential for plant growth.
The information regarding the loan drawdown was released to the public as per the company’s obligations under Article 17 of the UK Market Abuse Regulation. The release of this information is expected to maintain transparency with investors and the market.
Investors in the mining and agricultural sectors may view this development as a step towards Kropz’s goal of establishing a stronger presence in the phosphate market. The company’s stock performance and future prospects could be influenced by the successful utilization of these funds and the progress of their phosphate projects.
This report is based on a press release statement from Kropz Plc.
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