wasn't news released yesterday about securing funding?
Handeni Gold Inc. Operation Funding Up to June 2013
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Handeni Gold Inc. (QB) (USOTC:HNDI)
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Today : Thursday 13 December 2012
Handeni Gold Inc. (the "Company" or "Handeni Gold") (OTCQB:HNDI) has secured an interest free loan in order to fund its key operation activities up to June 2013.
On December 8, 2012, the Company entered into a facility agreement with IPP Ltd., a private company controlled by the chairman of Handeni Gold Inc. Dr. R. Mengi. The facility agreement ensures that the Company will have sufficient funding for its key exploration activities up to June 2013. The funding will be in the form of an interest free loan to the Company by way of monthly drawdowns of a maximum amount of US$100,000.00 per calendar month from December 2012 up to and including June 2013. The total amount drawn down by the Company is due to be repaid on or before December 31, 2013.
The Company is at a significant stage in its exploration program. The next tasks are to upgrade the program's currently identified targets and to conduct a comprehensive evaluation of the Company's 800km2 license area to identify portions to be relinquished by September 2013, as required under the governing Tanzanian mining law.
"The chairman's and the Board's confidence in Handeni Gold are reflected by the above announcement. To have the option not to raise funds through equity financing at current depressed market conditions is a major advantage for the Company" says Dr. Reyno Scheepers, CEO.
About Handeni Gold Inc.
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