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SUMATRA COPPER & GOLD PLC
Registered No. 5777015
ASX Announcement: 16 June 2016
VAT Working Capital Facility
As stated in its 2015 Annual Report, Sumatra Copper & Gold plc ("the Company") has experienced delays in the expected timing of VAT refunds from the Indonesian Government. The Company is currently finalising a facility with an Indonesian bank for the provision of up to US$5 million in VAT receivables funding ("VAT Facility") to supplement working capital while VAT claims are processed. The VAT Facility is expected to be drawn down during July 2016.
In the interim the Company has executed a working capital agreement with its major shareholders, Provident Minerals Pte Ltd and PT Saratoga Investama Sedaya Tbk, to provide US$1.7 million of working capital, repayable at the earlier of drawdown of the VAT Facility or 3 months. Interest is payable upon repayment at an annual interest rate of 10%.
For further information please contact:
David Fowler Phil Retter
Managing Director Investor Relations
Sumatra Copper & Gold plc NWR Communications
+61 8 6298 6200 M: +61 407 440 882
[email protected] [email protected]
About Sumatra Copper & Gold plc
Sumatra Copper & Gold plc (ASX: SUM) is a gold and silver producer and precious metals explorer in southern Sumatra, Indonesia. The Company's flagship asset is its Tembang gold-silver mine, currently in production. The Company also has an extensive exploration portfolio with projects ranging from brownfield, near-production opportunities to strategically located greenfield holdings.
Directors
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Steve Robinson
Non-Executive Chairman
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Jocelyn Waller
Non-Executive Director
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Gavin Caudle
Non-Executive Director
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David Fowler Managing Director
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Adi Sjoekri Executive Director
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Contact
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Level 1, 5 Ord Street West Perth WA 6005 Western Australia
T: + 61 8 6298 6200
E: [email protected]
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Registered address
39 Parkside, Cambridge United Kingdom CB1 1PN Registered Number 5777015 ASX Code: SUM
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Web: www.sumatracoppergold.com
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