Azarga Metals Corporation has paid its half-year loan debt to Baker Steel Resources Trust (BRST) in 1,470,443 ordinary shares.
The nominal cost of each share is C$0.06. Thus, Azarga has already paid some C$88.27 thousand ($66.849 thousand) to BRST.
The corresponding agreement was concluded in February. The loan amounts to $3.5 million with the interest rate of 8% and maturity until December 31, 2020.
The funds are provided to carry out prospecting works at the Unkur copper-silver deposit in Zabaikalye region.
Tuca-Kobalt LLC received the license to operate at the deposit in 2014. In 2016 Azarga bought the company and started developing the deposit. (Ukrainian metal)