|We had two announcements for Karora Resources aka KRR.|
First, they signed a new Credit agreement with Macquarie, which includes a $40M term loan and a $40M revolving facility. Part of the proceeds will be used to replace a previous $30M loan at a higher rate of interest.
And KRR also announced they are renewing their normal course issuer bid to buy KRR shares on the open market and cancel them. They are allowed to purchase 8,492,971 shares over the next year, but keep in mind they purchased and cancelled fewer than 10% of the allowable limit over the past year under the NCIB that just expired.
Meanwhile, Minera Alamos aka MAI announced they have closed the $4.37M brokered PP at 55 cents a share that will be used to help finance the development of Cerro de Oro, the second of three Mexico gold mines they are bringing into production.
FWIW, in the wake of last week's Q2 results release from B2Gold aka BTO, BMO kept them at Outperform with a target of $7.
As well, I read an interesting analysts report from BMO about Chinese metal demand. Their conclusion is that comparing how much H1 metal demand dropped compared to last year, it is surprising that metal prices have stayed as strong as they have. The Chinese government is dropping interest rates amid other measures to revive their economy, but the issue of Covid lockdowns looms over everything.