Kropz PLC - South Africa-focused phosphate producer and developer - Says Kropz Elandsfontein (Pty) Ltd and The ARC Fund have agreed to a R 250 million, around $13.2 million, loan facility to meet immediate and additional near-term funding requirements at Elandsfontein. The facility will be used to progresses commercial sales, and also to meet Elandsfontein’s interest and capital payment obligations to BNP Paribas SA.

Also notes that while several sales have been recorded in 2023, including a further 63,000 tonnes in the current quarter, they are below forecast, due to mine production having been affected by recent unprecedented seasonal rains.

Current stock price: 2.00 pence, up 14% on Thursday

12-month change: down 59%

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