Copper-focused Tiger Resources has secured a $US18.2 million ($A22.9 million) facility agreement with two of its existing lenders, to fund ongoing work it its Kipoi operation in Africa whilst it pursues recapitalisation plans.
Perth-based Tiger said the facility provided interim funding to support its ongoing operations at Kipoi, as well as the development of an updated life of mine plan for the asset, located in the Democratic Republic of Congo.
It is also undertaking a restructuring and recapitalisation process, and has entered into a deed of forbearance with its lenders.
The deed of forbearance provides the company with a platform to use its best endeavours to facilitate investment in the company to restructure its balance sheet and reca…
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