China Gold Mining Company, Sino Gold Get Loan From China Construction Bank
February 25th, 2009
Sino Gold Mining Ltd., owner of China’s second-largest gold mine, obtained a 780 million yuan ($114 million) loan from China Construction Bank to help refinance debt.
The loan will be used to repay a $30 million loan as well as a 371 million yuan loan, the Sydney-based company said today in a statement to the Australian stock exchange. The balance of the loan will be used for general corporate purposes, it said.
Sino Gold today reported a full-year net loss of A$103.8 million ($67 million).
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