Gold bars to be exempt from tariffs, White House clarifies
LONDON - Kropz Plc (AIM:KRPZ), an emerging African phosphate producer and developer, has completed its first drawdown of ZAR 60 million (approximately US$3.4 million) from a recently announced bridge loan facility, according to a company statement Wednesday.
The drawdown represents the initial portion of a ZAR 200 million (approximately US$11.4 million) loan facility that was agreed upon between Kropz Elandsfontein (Pty) Ltd and ARC Fund on July 14.
Kropz, which has phosphate development projects in South Africa and the Republic of Congo, is working to establish itself as a phosphate rock producer in sub-Saharan Africa. The company aims to develop into an integrated mine-to-market plant nutrient company focused on the region.
The announcement did not specify how the funds would be utilized or provide details on terms of the loan agreement.
Trading of Kropz shares continues on the London Stock Exchange (LON:LSEG)’s AIM market under the ticker KRPZ.
The information was disclosed in accordance with the company’s obligations under the UK Market Abuse Regulation, according to the press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.